15:33 17.01.2017

Kernel holding roadshow of debut eurobond issue

1 min read
Kernel holding roadshow of debut eurobond issue

Kernel, one of the largest Ukrainian agricultural groups, is conducting a roadshow for investors in the United States and Europe regarding a possible issue of eurobonds, according to the company's website.

The eurobonds are to be issued in accordance with the 144A and Reg S rules, i.e. they will be available to U.S. investors with a maturity of five years and a fixed coupon rate.

Other parameters of the securities issue are not reported.

As reported, the shareholders of PJSC Poltava Oil Extraction Plant - Kernel Group at an extraordinary meeting on December 26, 2016 approved giving guarantees on the debut issue of eurobonds of Kernel Holding S.A. (Luxembourg).

The shareholders' decision indicates the volume of eurobonds issued is limited to the sum of $650 million, the interest rate is 10% per annum, and the circulation term is five years.

The company will also act as a guarantor for other Kernel Holding costs within the eurobond issue. The ceiling amount of such costs is estimated at UAH 17.1 million.

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