In December 2012 the Syndicate of Ukrainian banks arranged by PJSC UkrSibbank signed a set of documents for granting a USD 80 million revolving loan facility to LLC Kernel-Trade.

LLC Kernel-Trade belongs to Kernel Group, a major supplier of grain, sunflower oil and meal produced in to the international market operating in Ukraine and Russia, as well as a key provider of grain silo services to the farmers.

The above loan facility is granted for a 3-year term for the purposes of financing the expenses of Kernel Group farming vehicles relating to the growing of agricultural crops, sowing, cultivating and harvesting.

Vasil Kisil & Partners acted as a sole legal adviser on this matter to the Ukrainian Banking Syndicate, specifically providing full legal support in drafting and negotiating LMA-based documentation, in particular, the Syndicated Facility Agreement, the Intercreditor Agreement, the Participation Interest Pledge Agreement, the Future Harvest Pledge Agreement and the Suretyship Agreement.

VKP team that worked on this mandate included leading associate Kseniya Ostrovska and associate Dmytro Boyko, led by the firm’s partner Yulia Kyrpa.