Kernel Trade, a subsidiary of Kernel Group (Kyiv), has attracted USD 170mn loan from a Russian bank, reads a statement made by Kernel Group. The company did not disclose the name of the Russian lender-bank. The deal was concluded on December 21. The credit is granted in two tranches: USD 100mn for five years and USD 70mn for 18 months. The raised funds will be channeled to refinance Kernel Trade's corporate debt. In August 2012, Kernel Trade attracted USD 500mn syndicated loan. Kernel Group finished 2011/12 MY with net profit of USD 198.6mn. The consolidated revenues of the company over the marketing year made USD 2.2bn. Thus, the consolidated revenues of the company grew by 14.22% over the previous marketing year. Kernel Group ended the April-to-June quarter of the 2011/12 fiscal year with a net profit of USD 72.531mn. In January 2012, the Kernel Group has bought 100% of the Ukrainian Black Sea Industry company. In August 2011, the Kernel Group has completed the acquisition of the 71% stake in Kyiv-based Ukrros Sugar Union holding. In 2010, the Kernel Group acquired Kyiv-based Allseeds Group, a major Ukrainian producer and exporter of sunflower oil. Kernel Group enterprises make products under the Schedry Dar, Stozhar, Lyubonka and Chumak brands.


 

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