KERNEL (KER): KERNEL RENEWS USD 320 MILLION CREDIT FACILITY - raport 21

UNI - EN REPORT No21/2014

Kernel renewed its sunflower oil pre-export credit facility and security package with a syndicate of European banks. A one year secured revolving facility with a limit of USD 320 million and option to increase up to USD 400 million is used by the company to fund the procurement of sunflower seeds for its sunflower oil production business in Ukraine.

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.”