Aequo has advised Piraeus Bank Ukraine on Ukrainian law matters related to its borrowing an uncommitted trade facility of up to EUR 5 million from the European Bank for Reconstruction and Development (EBRD). The facility is being granted within EBRD’s Trade Facilitation Programme (TFP) to support Ukrainian exporters and importers. The TFP promotes international trade to, from, and within the EBRD countries of operations, including Ukraine. Through the Programme, EBRD provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.
Aequo assisted the borrower with structuring the deal, negotiating the financing documentation and issued the legal opinion in favour of EBRD. The project legal team included Denys Kulgavyi, senior associate, and Valeriy Savva, associate, and was led by Yulia Kyrpa, partner and head of banking and finance practice group of Aequo.
“It was a privilege to have contributed to the implementation of the EBRD’s Trade Facilitation Programme and Piraeus Bank’s strategy of financing the Ukrainian real sector of economy. Having EBRD as a guarantor will enable Piraeus Bank to increase the volume of export and import operations of its customers. This is an important transaction for Piraeus Bank, our longstanding client, and demonstrates Aequo’s strengths in banking and finance”, comments banking and finance partner Yulia Kyrpa.