Kernel-trade raises $5 mln from Pravex-bank

13:28, 29.04.2016 1 min read

Exporter of sunflower oil Kernel-Trade, part of Kernel Group, has raised a $5 million credit line from Pravex-Bank (Kyiv).

"The general credit agreement with a limit of $5 million was signed for three years. A credit was issued for 12 months to finance current operations," the bank said in a press release.

The bank said that there are prospects to credit agro-industrial complex – both producers and processing companies.

Pravex-Bank was founded in 1992. Its only shareholder as of October 2015 was Intesa Sanpaolo S.p.A.

Kernel is a vertically integrated company which has been operating in the Ukrainian agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.