Kernel registered USD 222 M credit line
2012-09-12 14:14:29
According to the official information released by the National Bank of Ukraine Kernel opened USD 222 M credit line. Company’s official information stated that the funds attracted will be used for purchasing sunflower seeds, financing their storage and production of production of sunflower oil and meal for the following sale on the national market and/or exports. The deal was signed on September 7th, 2012 and made official this week. Syndicated credit is structured in the form of two transactions: long-term for USD 278 M available until July 31, 2014 and short term for USD 222 M which may be renewed on an annual basis upon agreement of both sides.
AgroInvest comment: Kernel has already received the total of USD 557 M during 2012, making the holding a leader in terms of credit funds attracted this year. We expect strong performance of the company this year, followed by instant improvements in the long term.
For more detail please refer to the UAIndex Daily (September 12 issue).
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