Kernel extended its pre-export credit facility with additional USD 200 mln
Kernel informed about entering into an amendment and restatement agreement to its pre-export credit facility dated 2 February 2018 with a syndicate of European banks and EBRD.
The total available limit under the amended facility was increased up to USD 300 mln by adding additional tranche of USD 200 mln maturing 30 June 2021. Moreover, the tenor of the existing USD 100 mln tranche was extended for one year till 30 June 2022.
The pre-export credit facility will be used by the company to fund the working capital needs of its grain trading and transshipment business in Ukraine, the message reads.
As a reminder, Kernel entered into an amendment and restatement agreement to its pre-export credit facility dated 16 October 2017 with a syndicate of European banks. The pre-export credit facility will be used by the company to fund the working capital needs of its sunflower oil production business in Ukraine.
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