Kernel extended its pre-export credit facility

The Kernel company on 22 October 2018 entered into an amendment and restatement agreement to its USD 200 million pre-export credit facility dated 16 October 2017 with a syndicate of European banks, the WSE informs.

The tenor of facility was extended until 31 August 2021 and additional short-term tranche of USD 90 million maturing in August 2019 was added to facility.

Pre-export credit facility will be used by the company to fund the working capital needs of its sunflower oil production business in Ukraine.

In October 2017, Kernel entered into pre-export credit facility with a syndicate of European banks.