AEQUO advises EFSE on EUR 10 million financing to Piraeus Bank to support MSMEs in Ukraine

Aequo acted as a Ukrainian law counsel to the European Fund for Southeast Europe (EFSE)* in connection with a EUR 10,000,000 synthetic facility for Piraeus Bank. By linking the structure of the deal to the EUR/UAH exchange rate, Piraeus Bank will be able to scale up its UAH sublending to support working capital and investment needs of micro, small and medium enterprises throughout Ukraine.

“This transaction will help mobilise private capital to support local small and micro businesses, creating additional funding opportunities and stimulating business activity in this vital sector of economy”

said Yulia Kyrpa, Executive Partner and Head of Banking and Finance at Aequo.

Aequo transaction team comprised counsel Oleg Krainskyi, associates Dmytro Shudrenko, and Konstantyn Dovhan, and was led by Executive Partner Yulia Kyrpa.

Aequo team provided comprehensive legal support in connection with the transaction, including regulatory advice, drafting and negotiating the transaction documents and providing legal opinion for the lender.

*EFSE, initiated by KfW with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission, aims to foster economic development and prosperity in Southeast Europe and the European Eastern Neighbourhood through sustainable financing for MSEs and private households via local partner financial institutions. Its investors include the European Union, the governments of Germany, Switzerland and Austria, and leading international financial institutions, including the likes of IFC, EBRD and EIB.