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CMS Advises Banks on Extension and Increase of Pre-Export Credit Facility for Kernel Group

CMS Advises Banks on Extension and Increase of Pre-Export Credit Facility for Kernel Group

Ukraine
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CMS has advised a syndicate of banks led by ING and UniCredit as mandated lead arrangers on the extension and USD 100 million increase of a pre-export credit facility to Ukraine’s Kernel Group. The total available limit under the amended facility was increased to USD 390 million.

CMS describes the Kernel Group as "the world’s largest producer and exporter of sunflower oil, and a leading producer and supplier of agricultural products from the Black Sea region to world markets with a land bank of 560,000 hectares." According to the firm, "the facility will be used to fund the working capital needs of its sunflower oil production business, including storage, transportation and trans-shipment."

The CMS team was led by Warsaw-based Partner Mark Segall, supported by Kyiv-based Partner Ihor Olekhov, Counsel Kateryna Chechulina, Senior Associate Vyacheslav Ovechkin, and Lawyers Khrystyna Korpan and Ivan Pshyk. CMS lawyers in Zurich, Luxembourg, and Amsterdam also assisted.

CMS did not reply to our inquiry on the matter.

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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

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AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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