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Syndicated loan: Kernel Holding, 08.2016 (300 mln)

Loan information

Loan	Kernel Holding, 08.2016
Country	Ukraine
Status	Granted
Type of placement	Syndication
Amount	USD 300,000,000
Signing date	August 2016
Tenor	***
Maturity date	***
Mandated lead arrangers (MLAs)	***
Other members of the syndicate	AKA Ausfuhrkredit-Gesellschaft mbh, Banque Cantonale de Geneve, BCP, Citi, Credit Suisse, Eurofin Asia Group - EFA Group, Kuwait Projects Co (Holding) KSCC - KIPCOm International Investment Group KSC
Purpose of loan	trade/pre-export financing
Purpose of loan	fund the working capital needs of its sunflower oil production and export business in Ukraine
Type of loan	Revolving credit
Investment banks	******

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Issuer	Kernel Holding
List of affiliated companies	Kernel-Trade Restomon Avere Commodities Inerco Trade Estron Etrecom Russian Oils Scylla Capital
Full issuer name	Kernel Holding S.A.
Region	CIS
Country	Ukraine
Country of registration	Luxembourg
Website	http://www.kernel.ua/en/
Other issues of the issuer (including issues by affiliated companies )	Kernel Holding, 6.5% 17oct2024, USD Kernel Holding, 8.75% 31jan2022, USD Kernel-Trade, 1-C Kernel-Trade, 1-B Kernel-Trade, 1-A All issues of the issuer
Issuer profile	Kernel is one of the largest agribusiness companies in Ukraine and an emerging player in Russia, with extensive operations across the entire supply chain. Kernel operates in production, refining, b...
Industry	Food industry

Issuer ratings:

Rating Agency	Rating	Rating scale	Date
S&P Global Ratings	***	Foreign Currency LT	***
S&P Global Ratings	***	Local Currency LT	***
Fitch Ratings	***	LT Int. Scale (foreign curr.)	***
Fitch Ratings	***	LT Int. Scale (local curr.)	***
Fitch Ratings	***	National Scale (Ukraine)	***
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Issuer's news:

10/11/2019	New bond issue: Kernel Holding issued international bonds (XS2010040983) with a 6.5% coupon for USD 300.0m maturing in 2024
10/02/2019	Concorde Capital Research: S&P affirms B long-term rating, Stable outlook for Kernel
10/01/2019	Fitch Ratings upgrades LT Int. Scale (local curr.) credit rating of Kernel Holding to "BB-" from "B+"; outlook stable
10/01/2019	Fitch Ratings upgrades LT Int. Scale (foreign curr.) credit rating of Kernel Holding to "BB-" from "B+"; outlook stable
09/30/2019	Kernel preparing for placing $300-350 mln LPN

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