Nova Poshta places UAH 800 mln C series bonds for investors, intends to issue D series bonds

Nova Poshta LLC, the leader of express delivery in Ukraine, after the technical placement of C series bonds for UAH 800 million in the primary market in February, placed these securities among institutional investors – state and commercial banks, insurance companies, and pension funds.

"The maturity of the bonds, their yield and other financial details are confidential and are not disclosed in the public space, since the issue was made without a public offer. An offer under the terms of the issue is not provided," the company said in response to a request from Interfax-Ukraine.

Nova Poshta clarified that they did not involve an underwriter for this operation, and after the initial placement, the bonds were included in the exchange list on the PFTS exchange. Univer Capital acted as a broker in the sale of bonds on the secondary market.

"The placement of bonds was carried out to raise funds to finance investment projects. In particular, the expansion and renewal of the logistics infrastructure in Ukraine, as well as the development of IT infrastructure," the issuer said.

Nova Poshta emphasized that the company became the first issuer of corporate bonds in Ukraine during a full-scale war.

"The company intends to carry out an additional issue of series D bonds based on the annual financial statements for 2022," the company told Interfax-Ukraine, specifying that bonds of series B for UAH 700 million issued in March 2020 were repaid on time in the first day of maturity in February of this year.

Nova Poshta clarified that the issuer and the C series bonds were assigned an investment grade credit rating "uaAA" on the national scale by the Standard-Rating agency.

According to the agency and the stock exchange, the circulation period for series C bonds is January 12, 2024. Standard-Rating adds that at the end of January the National Securities Commission registered this issue with a nominal rate of 24% per annum.

According to the PFTS, from March 2 to March 10, transactions with bonds were made on the stock exchange for a total of UAH 413.3 million, and the yield of bonds in the overwhelming majority was 24% per annum, and in a few – 24.55% per annum.

"During the four years since Nova Poshta entered the corporate bond market, we have shown ourselves to be a reliable and risk-free investment partner," the issuer said.

The company noted that during the war it demonstrated its resilience in extremely difficult conditions and the ability to recover after a fall, which led to high interest in securities.

Source: www.en.interfax.com.ua