Feronia | 22 December 2015
Feronia announces new financing from a syndicate of European development funds, backed by the governments of Germany, Netherlands, Belgium, Switzerland and Sweden.
TORONTO, ONTARIO, CANADA – December 22, 2015: Feronia Inc. (“Feronia” or the “Company”) is pleased to announce that its palm oil subsidiary, Plantations et Huileries du Congo SA (“PHC”), has entered into a secured term facility agreement (the “Facility”) for up to $49 million with a syndicate of European lenders consisting of four Development Finance Institutions (“DFIs”). All amounts in this press release are expressed in US dollars unless otherwise indicated.
The financing allows the DFIs to contribute to the development of poor rural areas through supporting the private sector; an important engine for employment and income in developing nations such as the DRC.