By Devika Patel
Knoxville, Tenn., May 20 – Equatorial Palm Oil plc negotiated a $20 million unsecured loan with KLK Agro Plantations Pte Ltd., according to a press release.
The term of the loan is five years, and the coupon is equal to Libor plus 500 basis points.
Proceeds will be used for joint venture company Liberian Palm Developments Ltd.’s growth.
London-based Equatorial Palm Oil is a crude palm oil producer.
| Issuer: | Equatorial Palm Oil plc
|
| Issue: | Senior unsecured loan
|
| Amount: | $20 million
|
| Maturity: | Five years
|
| Coupon: | Libor plus 500 bps
|
| Investor: | KLK Agro Plantations Pte Ltd.
|
| Announcement date: | May 20
|
| Distribution: | Private placement
|
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