Sayenko Kharenko has acted as a Ukrainian legal counsel to the EBRD on its provision of a four-year UAH-denominated loan equivalent to EUR 10 million to LLC OTP Leasing.
According to Sayenko Kharenko, the loan is the first synthetic local currency loan to a Ukrainian leasing company to finance lease contracts to small and medium-sized enterprises across the country. The loan will address foreign exchange risks of local borrowers and is expected to enable the company to diversify its customer base.
In addition, according to Sayenko Kharenko, the transaction contemplates granting of up to EUR 1 million funding for SMEs under the EU4Business initiative supported by the European Union and the Deep and Comprehensive Free Trade Area between Ukraine and the EU. “The grants will be provided as investment incentives aiming to improve technology and production processes of SMEs in line with EU standards,” the firm reports.
Sayekno Kharenko’s team was led by Partner Nazar Chernyavsky and Counsel Igor Lozenko and included Junior Associates Vira Pankiv, Vladyslava Mitsai, and Oleksandra Maksymenko.