Kernel Group Attracts USD 52 mln Loan

Kernel Group (KER PW: U/R) has announced that it has attracted a seven-year USD 52 mln loan to build a new plant. Kernel said that the loan agreement will be valid only after registration by the National Bank of Ukraine, which is expected by the end of April. The company did not disclose the lender or other details on the agreement. Anna Dudchenko: According to the company’s management, the plant will be built in Mykolaiv oblast, total required CapEx is USD 80 mln, and the plant is expected to be commissioned in 2009. The new mill’s designed crushing capacity of 510 ths mt sunseed/year accounts for 70% of Kernel’s current crushing capacity and should give it the largest crushing capacities in Ukraine.