3 October 2011
Kernel Holding SA (WSE: KER PW, N/R) announced on Saturday that subsidiary Kernel Trade took out a USD 100 mln five-year secured loan from an undisclosed Ukrainian bank, according to a statement released by the company. Proceeds from the loan will be used to refinance existing Ukrros debt and finance sugar production. On Friday Kernel said subsidiary Inerco Trade attracted a separate USD 100 mln two-year secured loan from unnamed European banks. That loan will be used for general corporate purposes.