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S-Enginnering became the first enterprise in the medium-sized business segment in Ukraine, with which JSC Ukreximbank (JSC "Ukreximbank" *) entered into a currency swap agreement to receive hryvnia financing secured in euros.
"For our business, this is a convenient tool for managing company finances. Transparency of conditions, a minimum package of documents, and the ability to set the terms of operations ourselves are important for us. In addition, a currency swap agreement is an excellent alternative to credit products," says Natalya Goncharenko, Chief Financial Officer of S-Engineering.
"In a seasonally fluctuating environment, swap and forward transactions are particularly effective tools to minimize the impact of exchange rate changes on the business. In addition, they allow not to divert the company's foreign exchange resources to meet current production needs and give great variability in choosing the optimal financing conditions," said Anton Boldyrev, Director of the Treasury and Investment Services Department of Ukreximbank.
*JSC "Ukreximbank" - a state export-import bank, is a joint-stock company, 100% of the shares of which are owned by the state represented by the Cabinet of Ministers of Ukraine. The only financial agent of the Government of Ukraine for servicing loans to MFOs, a partner of world-famous financial institutions in various programs.