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.
Read also
Wheat prices may increase in the second half of November
Drought and poor harvests are forcing Jordan to consider importing olive oil
EU eases climate plan to cut emissions by 2040
Brazil sowed almost half of planned area with soybeans
EU, Asia, and Africa remain key markets for Ukrainian corn exports in October
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon