Kernel Holding has secured financial aid worth $500 million from a syndicate of foreign banks, Reuters reports. The Ukrainian sunflower oil and grain producer will use the facility to fund the purchase of sunflower seeds, storage and processing into sunflower oil and meal to be sold in the domestic market or exported.

The loan comprises a $222 million piece that will mature on July 31, 2012, while a $278 million tranche will mature on July 31, 2014. The banks syndicate was led by ING Bank, UniCredit Bank and Deutsche Bank.

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