Kernel raises multi-currency loan of $100 million for 5 years
2011-10-03 15:02:18
Kernel Trade LLC (a subsidiary of Kernel Holding S.A.) has entered into an agreement with one of Ukrainian banks to provide a multicurrency loan (in the national currency and U.S. dollars) of $100 million for 5 years.
According to the company's press release published on the website of Warsaw Stock Exchange, the funds will be used to refinance the existing debts and finance the production of Sugar Union Ukrros.
The loan is secured with both commodities (sugar) and corporate guarantees of Kernel.
The name of the bank has not been disclosed.
Earlier, Kernel drew from a European bank a loan of $100 million for two years.
Kernel Group (trade marks Schedry Dar, Stozhar, Chumak Domashnia, Chumak Zolota, Liubonka) is one of the largest producers of sunflower oil in Ukraine.