White & Case Advises China Development Bank Corporation on Financing Valued Over US$20 Billion to Venezuela

Beijing, August 24, 2010 ... Global law firm White & Case LLP advised China Development Bank Corporation (CDB) on two loans, together valued at over US$20 billion, to Venezuela's Banco de Desarrollo Económico y Social de Venezuela (BANDES). The financing, which signed 23 August 2010, is one of the largest that CDB has extended to any one country.

White & Case's team supported CDB in negotiations and documentation day-in and day-out in China, in coordination with the Firm's New York and Miami offices.

Xiaoming Li, the head of White & Case's Beijing office who led White & Case's team, commented, "It has been an honor for our firm to work on such a unique and important transaction for CDB. We relied on the strength of our offices' experience working together on cross-border deals and our Firm's ability to mobilize global resources. Being on the ground in China and our New York and Miami offices' extensive Latin America experience were key assets to handling the challenges of this transaction."

In addition to Xiaoming Li, the White & Case team included Sean Wang, Xin Wang, Xueyan Gao, Tianren Liu and Di Zhuo (Finance) and Jiang Bian (Tax) in Beijing; Carlos Viana and Sergio Cabado (Finance) in Miami; Someera Khokhar and Amiko Sudo (Finance) and Ank Santens (International Arbitration) in New York; and Magdalene Bayim-Adomako (Finance) and Jason Yardley (Disputes) in London.

About White & Case
White & Case LLP is a leading global law firm with lawyers in 36 offices across 25 countries. We have been advising clients in China since 1978 and have one of the strongest international finance practices in the country. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices.

Contact:
Nicholas Clarke
Regional Media Relations Manager – Americas
White & Case LLP
+ 1 212 819 7808