Kernel 2022 Eurobond
Key terms:
Issuer:Kernel Holding S.A.
Status / format:Senior Unsecured / Guaranteed
Guarantor coverage99.6% of Group revenue; 85.2% of Group EBITDA (at issuance date)
Instrument rating- / B / B+ (Moody's / S&P / Fitch)
Distribution formatRegS / 144A
MaturityJanuary 31, 2022
AmountUS$ 500 million
Coupon / yield at issuance date8.750% / 8.875%
Denom.US$ 200 thousand / US$ 1 thousand
Law / ListingEnglish / ISE
PricedJanuary 24, 2017
Payment dates
Payment periodPayment dates
131 July 2017
231 January 2018
331 July 2018
431 January 2019
531 July 2019
631 January 2020
731 July 2020
831 January 2021
931 July 2021
1031 January 2022
Kernel Holdings S.A., a diversified agribusiness company with principal operations in Ukraine and 88% of adjusted EBITDA derived from all FX-denominated exports over the past 5years, has announced that it has issued USD 500,000,000 aggregate principal amount of 8.75%. Notes due 31 January 2022 (the "Notes"). The Notes are rated B+ by Fitch, and B by S&P, two and one notches above Ukrainian sovereign respectively.

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