Financed ProjectsKernel Group PxF 2021, Ukraine

Identification Code:

OP/20/0049

Total Operation Cost:

300.000.000

Maturity:

32 months

Operation Status:

Description and Purpose of the Operation:

BSTDB participates in an USD 300 million Syndicated Secured Finance Facility ("PXF Facility") extended to Kernel Group, Ukraine. The PXF Facility will be used to finance the Group’s Ukrainian sunflower seeds’ purchases, their storage period and their processing period until the seeds have been processed into the commodities and exported.

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Trade Finance

Sector:

Consumer Staples

Domain:

Private

Borrower/Client:

Kernel Group is a leading vertically integrated Ukrainian agribusiness player with domestic and international operations. The Group’s primary activities are the procurement and processing of sunflower seeds, marketing of sunflower oil and its by-products and grain on international markets. All the Group’s manufacturing facilities are based in Ukraine.

Co-Financiers/Participants:

ING Bank NV (Lead Arranger), Credit Agricole, Rabobank, IIG Bank Malta.

Guarantors/Sponsors:

Kernel Holding SA, Luxembourg

Developmental and Regional Cooperation Impact:

The Operation will increase export potential of Ukraine, including growth of agricultural commodity trading within BSTDB area and beyond.

Environmental Classification and Impact (summary):

Screened B+, has the potential to generate medium to high E&S risks and impacts that may propagate beyond the site boundaries, but which are largely reversible and can be addressed through relevant mitigation measures.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org