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Kernel attracts USD 170 mln loan from Russian bank

Kernel attracts USD 170 mln loan from Russian bank

25 December 2012

Kernel Holding (KER PW) entered into an agreement to withdraw a USD 170 mln loan facility from a Russian bank, the company said on Dec. 24. The facility consists of two tranches: USD 100 mln that matures in 5 years and USD 70 mln maturing in 1.5 years. Kernel is going to use the new funds to repay existing loans – about USD 690 mln of which will mature in 2013. This looks like Kernel’s first deal with a Russian bank – earlier it borrowed only from Ukrainian and European banks.

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