Kernel to buy back 57% in 2022 notes

Ukraine’s leading
farmer and sunflower oil producer Kernel (KERPW) reported on Nov. 3 that its
bondholders have offered USD 1.00 mln of its notes due 2022 as of the late
tender deadline. The company said it will purchase all the offered bonds.
Recall, as of the early tender deadline, bondholders offeredUSD 285.89 mln of the bonds. In this
way, the company will purchase a total of USD 286.89 mln of the notes, which is
57.4% of notes outstanding and 82.0% of the maximum amount of bonds that the
company was planning to buy back.

The total amount that the company will pay for the bonds’ purchase will
be USD 303.00 mln. This amount will be mostly covered by USD 300 mln of 7Y
bonds that the company issued in late October.