Avellum has advised Kernel Holding S.A. in connection with an offering of USD 300 million 6.5% guaranteed notes due 2024. Joint lead managers ING Bank N.V., London Branch, and J.P. Morgan Securities plc were reportedly advised by Latham & Watkins and Sayenko Kharenko.
Kernel is the producer and exporter of sunflower oil and a major supplier of agricultural products from the Black Sea region to world markets. Since November 2007, the company's shares have been traded on the Warsaw Stock Exchange. In 2017, Avellum advised Kernel on its debut offering of USD 500 million 8.75% guaranteed notes due 2022 (as reported by CEE Legal Matters on February 3, 2019).
The Avellum team was led by Senior Partner Glib Bondar with support from Associates Anastasiya Voronova, Oleg Krainskyi, Orest Franchuk, Anna Mikhalova, and Mariana Veremchuk. Partner Vadim Medvedev and Associates Anton Zaderyholova and Yelyzaveta Kravtsova provided support on tax elements.