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ODESAGAS MANDATES BROAD STREET CAPITAL GROUP TO ARRANGE $30 MILLION SDFC FINANCING FOR THE GREENHOUSE GAS REDUCTION PROJECT
Broad Street Capital Group,
New York, Tue., Nov. 23, 2021
(New York City, November 22, 2021) Broad Street Capital Group announced today that it has been exclusively mandated by the OdesaGas Postachannya (OdesaGas) of Ukraine to arrange $30 million in long-term debt financing from the US DFC (DFC) – a Development Finance Agency of the US Government. Financing is earmarked for a marquee GreenHouse Gas (GHG) reduction project, where OdesaGas will be replacing old inefficient gas boilers and ancillary equipment at over 30,000 residential households in the city of Odesa and the surrounding region. As part of the project, OdesaGas will also provide innovative gas contracts to consumers to help them manage and soften the impact from the wild swings of the gas market prices.
Broad Street Capital Group will work with the OdesaGas team to help select technical advisers, US engineering company, develop a business plan and assemble a complete documentation package needed for consideration by the DFC for financing.
“We have selected the Broad Street Capital Group as our Adviser, due to its unparalleled expertise, its twenty year experience working with DFC and other Trade and Development agencies of the US Government, as well as its twenty five years of experience working in the Ukrainian markets.” said Oleksandr Bemm, Director of OdesaGas. “We look forward to working with the Broad Street Capital team and US DFC on this cutting-edge ESG project, which will result in significant reduction of greenhouse gas emissions. This project will not only have significant developmental effects, but will also help consumers in our market to significantly reduce the amounts they currently spend on heating and increase their quality of life. OdesaGas looks forward to submitting the completed application for financing in the next 30 days and plans to begin implementing the Greenhouse Gas reduction project in the Summer of 2022″said Bemm .
About OdesaGas – OdesaGas Postachannya (OdesaGas) has been a reliable supplier of gas services to individual consumers since 2001. The company employs over 200 people who make sure that the critically vital heat and hot water services are provided to the residents on the timely basis.
About Broad Street Capital Group – Based in the heart of New York City’s Financial District, Broad Street Capital Group is a boutique international private merchant bank, which since 1988 has served several foreign governments, multiple state-owned companies, as well as numerous SMEs. The Group focuses on developing project financing solutions, which involve US Government’s trade and development agencies, providing a full suite of political risk and business risk mitigation products, as well as export management services and comprehensive US market entry advisory.
USUBC NOTE: OdesaGas and Broad Street Capital Group are members of U.S.-Ukraine Business Council (USUBC), Wash, D.C.