Kernel repaid $300 million worth of Eurobonds on time
18.10.2024 - 13:33
Agroholding Kernel repaid Eurobonds in the amount of USD 300 million with a coupon rate of 6.5%.
“This became possible thanks to the conscientious work of our team, as well as currency liberalization by the National Bank of Ukraine,” the Kernel reported.
The redemption took place on the date specified in the Prospectus for the issue of Eurobonds — October 17, 2024.
The company noted that it is important for Kernel to maintain a high credit rating.
“Therefore, despite all the military challenges, we keep our obligations to creditors,” the company emphasized.
Before the war, Kernel was a world leader in the production and export of sunflower oil, as well as one of the largest producers of bottled oil in Ukraine. Despite the difficulties, the agricultural holding demonstrates financial stability: according to the results of the 2023 fiscal year, the company received a net profit of $299 million, although the year before that it ended with a loss.
We will remind, according to the results of the 2024 fiscal year, the Kernel agricultural holding exported 5.5 million tons of grain thanks to the sea corridor.
