NovaPay increases volume of bonds in circulation to UAH 890 mln

In October-December 2024, the international financial service NovaPay placed three more bond issues, the issuer of which is NovaPay Credit LLC – series G, H and I for a total of UAH 290 million, increasing the total volume of securities in circulation to UAH 890 million.

As stated in the company's statement on Wednesday, securities of series G and H in the amount of UAH 100 million are already available for purchase in the NovaPay mobile application, while series I bonds in the amount of UAH 90 million are offered for sale to institutional clients.

"We see that our bonds are in demand, so we will present their new issues. More than 3,000 clients have already invested in securities for UAH 740 million," NovaPay CFO Ihor Prykhodko is quoted in the release.

In mid-October 2024, the company reported selling bonds to 2,600 clients for UAH 600 million.

According to the prospectus, the new series bonds were issued for three years. The nominal interest rate on them is 17% per annum, while for the three previous ones it was at the level of 18%. The payment of interest income on series G and H bonds is scheduled for the end of the circulation period, while for series I bonds – quarterly, and the interest rate is still determined for the first year of circulation.

NovaPay, which promotes most of its bonds as an alternative to bank deposits through a REPO scheme for a period of one to 12 months, declares in a press release that the rates on them are up to 18% per annum.

The funds from the placement of bonds, as before, are planned to be used for credit operations for legal entities (20%) and individuals (80%).

Bonds of all three series will be offered for admission to trading on the Perspektiva exchange. The issuer has appointed Univer Capital LLC as the administrator for the issue of bonds of series G and H.

According to the Standard-Rating agency, the value of the NovaPay Credit loan portfolio for the first nine months of 2024 increased by 53.4% to UAH 639.11 million, the number of loan agreements doubled to 90,410, the share of loans overdue for over 90 days increased from 0.86% to 3.57%, and the effective interest rate on the loan portfolio increased from 44.69% to 58.55%.

The company's revenue from sales for January-September 2024 increased by 2.9 times to UAH 170 million, net profit by 84.9% to UAH 55.3 million, and equity by 20.9% to UAH 319.1 million.