Subsidiary of Kernel secures Kernel's debut $650 mln eurobonds

17:08, 27.12.2016 1 min read

Shareholders in private joint-stock company Poltava Oil Refinery – Kernel Group have approved its guarantee for debut eurobonds of Kernel Holding S.A. (Luxembourg).

The company said in the information disclosure system of the National Commission for Securities and the Stock Market, the decision was made on December 26.

The amount of the bonds is restricted with $650 million. Interest is 10% per annum and the bond will mature in five years.

The company will act as a guarantor of other expenses of Kernel Holding within the eurobond issue. The upper limit for the expenses is estimated at UAH 17.1 million.

Kernel is the world's largest producer and exporter of sunflower oil. It is the leading manufacturer and supplier of agricultural products from the Black Sea region to world markets.

Kernel's share of the world's sunflower oil production is about 8%.