Kernel renewed USD 320 Ml credit facility
2014-09-08 10:27:19
Kernel renewed its sunflower oil pre-export credit facility and security package with a syndicate of European banks. The agricultural holding published this information on August 28. A one year secured revolving facility with a limit of USD 320 Ml and option to increase up to USD 400 Ml is used by the company to fund the procurement of sunflower seeds for processing into sunflower oil. Anastasiia Usachova, the CFO of Kernel, said, “The renewal of this facility – along with two other facilities announced earlier this month – completes our refinancing needs for the 2014/15 marketing year. We appreciate the banks’ continued commitment to partner with our business despite the challenging times.”