Glencore-led Australian coal port wins court nod on $3.2 bln debt refinancing

Australia's Wiggins Island Coal Export Terminal obtained court approval on Tuesday for a $3.2-billion debt refinancing plan, offering respite to its owners who would have had to start repayments this month. The Queensland-based terminal, known as WICET, is 40% owned by miner and commodities trader Glencore and was built to service a consortium of eight coal companies during a period of high commodity prices.