Kernel secures $77 million loan from Oschadbank to help offset costs of Transbulkterminal restoration

Oschadbank has signed several loan agreements with companies of the Kernel Group totalling $77 million. This is the largest lending deal with a private business among Ukrainian banks in 2025. According to the bank’s statement, the agribusiness holding will be able to use the funds, among other purposes, to refinance capital expenditures related to the reconstruction of Transbalkterminal.

Approximately half of the total amount — $36.7 million — may be used for investments. These are long-term loans with a seven-year maturity. Kernel plans to allocate the funds to renew agricultural machinery and field equipment, as well as to refinance capital expenditures associated with the reconstruction of its grain terminal, Transbulkterminal, in Chornomorsk, which was damaged during a Russian attack in 2023.

The terms of the agreement also allow Kernel to access the entire $77 million credit limit at any time to replenish working capital. This means the company can redirect financing toward the purchase of grain, fertilizers, crop protection products, fuel, and other essential resources.

On August 19, 2023, a missile strike on the port of Chornomorsk caused severe damage to the terminal, destroying warehouses, receiving infrastructure, loading equipment, and stored inventories. As a result of the attack, storage capacity was reduced by 136,000 tons, while annual transshipment capacity decreased by 2 million tonnes.