Kernel, Astarta receive USD 25 mln OPIC loans
19 January 2012
Kernel (KER PW) and Astarta (AST PW) each attracted USD 25 mln five-year loans from Citibank, with the support of the Overseas Private Investment Corporation, a US government agency whose goal is to fund further US foreign policy via the mobilization of private capital into business development in 150 countries. Kernel plans to use the loan facility to finance construction of a 260,000 t grain storage silo and Astarta to upgrade sugar production facilities and buy new machinery. OPIC reopened its programs to Ukraine after a 10-year hiatus in December 2009. The first announcement of new OPIC money for Ukraine was just last week when OPIC said it would provide USD 50 mln to a private equity fund managed by SigmaBleyzer.
