The final decision on the sale of FX currency to large Ukrainian companies and holdings and their further settlements from Ukraine on eurobonds with Western creditors will be made by the National Bank of Ukraine (NBU), First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko said at the Made in Ukraine forum in Kyiv … Read more
The Cabinet of Ministers of Ukraine appealed to the National Bank of Ukraine (NBU) with a request to allow the sale of currency to large Ukrainian companies and holdings and its further transfer for settlements on eurobonds and with Western creditors. The corresponding applications for individual permits for cross-border transfers of currency values are formalized … Read more
Kernel Agricultural Holding has acquired the OilExportTerminal in Pivdennyi port, the company announced in a Facebook post on Jan. 25. Kernel CEO Yevhen Osypov called the new asset strategically important for the company, given the lack of oil transshipment at Mykolaiv terminals. In the 2019-2022 marketing years, Mykolaiv accounted for about half of the total … Read more
Kernel has signed an agreement with its creditors, in particular with Natixis, ING, the EBRD and the EIB, on the release from redemption until June 30, 2023, of two tranches of guaranteed bonds of $300 million each with a rate of 6.5% and a term of repayment in 2024 and 2027, respectively. The holding reported … Read more
The Turkish vessel Polarnet, which left the port of Chornomorsk (Odesa region) on August 5 with 12,000 tonnes of corn from Kernel agro-industrial holding, arrived at the Turkish port of Derince on August 8. “Kernel completed one of the most important missions – the first ship with Ukrainian grain arrived at its destination. The shipment … Read more
Standard & Poor’s Global Ratings has raised its long-term issuer and issue credit ratings on Kernel Holding S.A., and its existing senior unsecured notes, to ‘B+’ from ‘B’, the outlook is stable. “Kernel Holding S.A. posted stronger-than-expected results for the financial year ending June 30, 2020 (FY2020), with positive free operating cash flow (FOCF) and … Read more
Fitch Ratings has affirmed Ukrainian commodity processor Kernel Holding S.A.’s Long-Term Foreign- and Local-Currency (LC) Long-Term Issuer Default Ratings (IDR) at ‘BB-‘. The Outlook is Stable. “The affirmation reflects our expectations that Kernel will maintain a high share of export profits (FY20: 95% of EBITDA), and continue proactively refinancing upcoming debt maturities,” Fitch said in … Read more
Kernel, a large Ukrainian agricultural holding, saw $59.61 million in net profit in the first quarter of FY2020 (July 2019 – June 2020), which is 24% less than in the first quarter of FY2019 over the IFRS 16 impact. According to a report of Kernel Holding S.A. (Luxembourg) on Wednesday, revenue reduced 26% year-over-year to … Read more
Kernel, one of the largest Ukrainian agricultural groups, received $164 million of net profit in the first half of the 2019 fiscal year (FY, July 2018-June 2019), which is 83% more than in the same period last year. According to the company’s financial report on the website, its revenue in July-December 2019 FY increased by … Read more
Fitch Ratings has affirmed Ukrainian commodity processor Kernel Holding S.A.’s Long-Term Issuer Default Rating (IDR) at ‘B+’ with stable outlook, according to a posting on the rating agency’s website. “The ratings incorporate a leverage spike and weak operating results expected for financial year ended June 2018 due to a challenging operating environment. However, we also … Read more