AEQUO has acted as Ukrainian law counsel to European Bank for Reconstruction and Development in connection with extension to OTP Leasing LLC, the leading Ukrainian leasing company, of a UAH-denominated loan in the amount equal to USD 20 million. The loan will be utilized for financing leasing transactions with private Ukrainian companies, including small and medium-sized enterprises (SMEs) under EBRD's SME Local Currency Programme. Having borrowed the UAH loan OTP Leasing will be able to reduce its financial indebtedness in foreign currency. Significantly, it was the first UAH-denominated loan ever disbursed by EBRD. 

AEQUO's lawyers assisted EBRD in elaborating the structure of collateral under the transaction, preparing and negotiating the transaction documentation and issued the legal opinion in favour of EBRD to confirm the validity and enforceability of the transaction documents.

AEQUO's team comprised senior associate Denys Kulgavyi, associate Valeriy Savva and was supervised by Yulia Kyrpa, partner and head of Banking and Finance

"We are honored to have represented EBRD in this very first successful and long-awaited project within EBRD's SME Local Currency Programme in Ukraine. Benefiting from its status of an international financial institution EBRD may extensively meet funding needs of its clients, now also in UAH.  It is a significant support for OTP Leasing, enabling it to expand its leasing portfolio without taking any associated FX risks. This transaction is an important milestone in both financial and leasing market of Ukraine", said Yulia Kyrpa.