MEGABANK signed an agreement with the American Corporation OPIC
On 15 July, a meeting of representatives of the MEGABANK JSC and Overseas Private Investment Corporation (OPIC), the U.S. Government Agency, was held in Kyiv at the Central Regional Branch of MEGABANK.
The MEGABANK JSC represented by Oleksii Oleksiiovych Iatsenko, Chairman of the Management Board, and Oleksandr Oleksandrovych Shypilov, Deputy Chairman of the Management Board, signed the subordinated loan agreement in the amount of USD 4,3 million together with the American Corporation OPIC. The term of the agreement is 5,5 years. In singing the agreement, OPIC was represented by Ralph Matheus, Managing Director, Syndications and Framework Management Division; James W. Morrison, Special Assistant for Congressional and Intergovernmental Affairs, and Regina Celia Short Селия Шорт, Associate Director, Syndications and Framework Management Division.
The agreement was concluded in the framework of the implementation of the Additional Capitalization Plan developed following the results of the stress tests of the National Bank of Ukraine by the bank. After the relevant decision of the NBU, the subordinated loan funds will be included in the bank’s capital.
Reference. Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.
MEGABANK has been working in Ukraine already for 29 years. The bank serves more than 600 thousand of customers in 167 branches. The bank’s shareholders include large foreign financial organizations, such as European Bank for Reconstruction and Development, German State Bank KfW, International Financial Corporation.