Kernel to receive USD 200mln syndicated loan

Kernel to receive USD 200mln syndicated loan

Warsaw Stock Exchange made the announcement

Kernel has reached an agreement over USD 200mln syndicated loan from several banks, according to WSE. The raised funds will be channeled to fuel the working capital of the Ukrainian major agro-holding in sunflower oil production. The facility will be provided for three years.

Within the bounds of possibility, the loan can be channeled to finance new construction of sunflower oil plant in Khmelnytsk region worth USD 130mln. As we reported, Kernel plans to finish construction by 2020.  Kernel is one of the leading world producers of sunflower oil making exports from the Black Sea region to the world markets. Kernel posted USD 225mln in net profits in 2016, two times more than previous year.  

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