OTP Bank financed the Lviv Insulator Company in the amount of 5.2 million euros
OTP Bank has set a credit limit of EUR 5.2 million for the Lviv Insulator Company (LIC).
According to Olga Volkova, head of Directorate of the corporate sales of OTP Bank, the financing was provided in the form of an investment loan for a period of five years for the modernization of a glass furnace of the Lviv manufacturer of glass insulators. In the project, there were used documentary tools, and three OTP Group banks were involved in the implementation of the agreement.
According to O. Volkova, “structuring this agreement was quite difficult, as it involved three OTP Group banks, a number of documentary instruments and a loan at the same time. OTP Bank has once again demonstrated its readiness to offer the market solutions to non-standard customer requests."
Lviv Insulator Company is the largest in Europe and the only large manufacturer of high-voltage tempered glass insulators in Ukraine, which exports its products to 30 countries.
LIK manufactures 12 types of suspended and pin insulators with electromechanical strength from 40 to 400 kN of various shapes and purposes. The production of insulators is carried out taking into account advanced technologies, new achievements of science and technology in the field of materials science and energy, using the developments of research institutes in Lviv, Kyiv and the Research Institute of High Voltages.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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