BHP Billiton Group has sold a more than A$100 million exposure in Newcastle Coal Infrastructure Group Pty. Ltd. to an unidentified buyer, The Australian Financial Review reported, citing unnamed sources.

According to the report, investment bank Rothschild secured a deal for a parcel of perpetual bonds at above par and the transaction was a strong result for both parties.

BHP decided to off-load the stake after deeming it noncore. Newcastle Coal has a long-term lease agreement on the Port of Newcastle, the world's largest coal exporter.