Chinese Bank Injects $500M Into Liberian Palm Oil Project

Law360, New York (March 13, 2013, 4:37 PM EDT) -- A private equity-backed unit of palm oil producer Golden Agri Resources Ltd. has secured $500 million from China Development Bank for development of a project in Liberia, according to a Wednesday statement.

China Development Bank is offering Golden Veroleum Ltd., which is backed by The Verdant Fund LP, a 15-year loan to help further construction of a sustainable palm oil project that has been in the works for more than two years, according to investor documents.

“The proceeds of the facility will be drawn in stages...
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