Project description
and objectives:
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The proposed project consists of a Senior Loan to First Lease, a Kiev based
vehicle fleet leasing company owned by ALD International SA, which is part of
the Société Générale Group. The loan will finance full service operating
leases of passenger and light commercial vehicles to Ukrainian Corporates;
with a significant part of the loan being used to finance leases to SMEs. The
main objective of the project is to support the development of vehicle fleet
leasing in Ukraine by providing long-term debt facility to First Lease.
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Transition impact:
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The transition impact of this project will arise from its support for the
development of the Ukrainian leasing sector; promoting increased financial
intermediation by supporting a major international vehicle fleet leasing group
following its entry into Ukraine; increasing competition in vehicle fleet
leasing; and supporting SME sector development.
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The client:
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First Lease was established in July 1999 to undertake vehicle fleet leasing to
corporates in Ukraine and has operated under the Hertz franchise since 2001.
Recently, ALD International SA, the vehicle fleet leasing company that is part
of the Société Générale Group acquired First Lease.
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EBRD finance:
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Senior Loan of EUR 12 million.
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Total project cost:
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EUR 12 million.
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Environmental impact:
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First Lease will be required to apply EBRD’s Environmental Procedures for
Leasing Companies which includes compliance with the Bank’s Environmental
Exclusion List. All lease agreements between First Lease and its lessees
will contain a provision in which such lessees agree to operate the leased
vehicles in compliance with the applicable environmental, health and safety
requirements of the Government of Ukraine and the local authorities.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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F Hamain
First Lease
Frunze 69,
04080 Kiev,
Ukraine
Tel: +38 044 247 69 69
Email : f.hamain@hertz.com.ua
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EBRD contact:
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Svetlana Tsyba, Operation Leader: tsybas@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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