KER KERNEL ANNOUNCE AMENDMENT AND EXTENSION OF ITS PRE-EXPORT CREDIT FACILITY

Kernel Holding S.A. (herein “the Company”) is pleased to announce that as of 3 September 2019, the Company entered into an amendment and restatement agreement to its pre-export credit facility dated 16 October 2017 with a syndicate of European banks. Total available limit under amended facility was increased up to US$ 390 million by adding additional tranche of US$ 100 million maturing 31 August 2021 Moreover, the tenors of existing tranches were extended for one year: US 200 million till 31 August 2022 and US 90 million till 31 August 2020, respectively.
Pre-export credit facility will be used by the Company to fund the working capital needs of its sunflower oil production business in Ukraine.