Kernel attracts USD 170 mln loan from Russian bank

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.