Sayenko Kharenko advises EBRD on EUR 15 million financing to OTP Leasing to support SMEs in Ukraine
Sayenko Kharenko, Kyiv, Ukraine,
Apr 28, Tue, 2020
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a four-year loan of up to EUR 15 million equivalent to OTP Leasing. The loan will be available for disbursement as a UAH synthetic and/or a EUR denominated facilities. It will enable OTP Leasing to finance long-term leases to small and medium-size enterprises (SMEs) across Ukraine despite the current market situation caused by the outbreak of the coronavirus pandemic.
The funding will be available under the EU4Business-EBRD Credit Line provided in the context of the Deep and Comprehensive Free Trade Agreement (DCFTA) between the EU and Ukraine. The funding also includes grants to be provided as investment incentives to eligible enterprises aiming to improve technology and production processes of SMEs in line with EU standards.
EBRD is the largest international financial investor in Ukraine. To date, the bank has made a cumulative commitment of more than EUR 14.54 billion in over 460 projects to the country. OTP Leasing has been present on Ukrainian market for more than a decade and is a part of OTP Group, a European financial group.
Sayenko Kharenko’s team was led by partner Igor Lozenko and included associate Vira Pankiv and junior associate Oleksandra Maksymenko.