22 October 2017
New credit facility will be used to finance working capital necessity of the group related to sunflower seeds origination.
USD 200M pre-export credit line is to be provided by a syndicate of European banks, tenor Ц 3 years.
As a reminder as of today Kernel Holding belongs to the two largest agri-holdings of Ukraine (by its land bank size) and also is the largest sunflower oil producer in the world (with about 1.2M tons of total production). In summer 2017 the company expanded its land bank by more than 200k ha, from 390k ha up to 605k ha. Before land bank increase total self-sufficiency of the group in sunseeds for crushing operations has been at about 9-10%, which means main part of raw materials is originated from third parties. With new financing Kernel is to originate more than 500k tons of sunflower seeds (which is significant share of the total necessity for the season is about 3M tons).