Multi-Currency Loans in Ukraine: How Does it Work?
Loans where funds are made available in more than one currency are referred to as “multi-currency” facilities. Multi-currency loans are becoming popular among corporate borrowers struggling with the extreme volatility of the exchange rate. Such loans, however, are still only available to Ukrainian borrowers in the simplest of forms, availing little opportunity to tackle the FX risk. This article explains the nature of the multi-currency clause included in cross-border loans and discusses their practical implementation. We also explore alternative multi-currency structures to reduce borrowers’ exposure to foreign exchange risk...
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