Kernel received a $150 million loan from a syndicate of European banks
25.10.2024 - 16:30
The funds received will be used to support and increase Ukrainian agricultural exports.
This was reported in the press service of the Kernel company.
“For the first time since the beginning of the full-scale invasion, we received financing from international creditors – a syndicate of European banks. The credit line in the amount of $150 million has a maturity date of August 1, 2025, with the possibility of extension,” the message reads.
The company noted that they will use the funds to support operations aimed at increasing the export of Ukrainian agricultural products, in particular sunflower oil.
“Banks appreciated our stability during the war, which made it possible to attract new financing even in these unprecedented times,” commented Sergey Volkov, CFO of Kernel.
As a reminder, Kernel repaid Eurobonds for $300 million on time. The redemption took place on October 17, 2024, as specified in the Eurobonds Prospectus.
