Edition:
United Kingdom

Kernel Extends USD 200 Mln Pre-Export Credit Facility Until End-Aug. 2021


Friday, 26 Oct 2018 

Oct 29 (Reuters) - KERNEL HOLDING SA ::SAID ON FRIDAY THAT IT HAS ENTERED INTO AN AMENDMENT AND RESTATEMENT AGREEMENT TO ITS USD 200 MILLION PRE-EXPORT CREDIT FACILITY FROM OCT. 16, 2017, WITH A SYNDICATE OF EUROPEAN BANKS.THE TENOR OF FACILITY WAS EXTENDED UNTIL AUG. 31, 2021, AND ADDITIONAL SHORT-TERM TRANCHE OF US$ 90 MILLION MATURING IN AUGUST 2019 WAS ADDED TO FACILITY.PRE-EXPORT CREDIT FACILITY WILL BE USED BY THE COMPANY TO FUND THE WORKING CAPITAL NEEDS OF ITS SUNFLOWER OIL PRODUCTION BUSINESS IN UKRAINE.