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.