International law firm CMS has advised a syndicate of banks led by ING Bank as mandated lead arranger in relation to the extension of the pre-export facility for Ukraine’s Kernel Group. This is an innovative structure for Ukraine and it became possible as a result of gradual liberalisation of currency controls in the country since early-2019. The new structure of the facility also allows specific lenders to re-join the facility at a later stage thereby providing Kernel Group with flexibility to access additional funding in the future.