Postal service UkrPoshta to place UAH 600mln (USD 22mln) corporate bonds

Postal service UkrPoshta to place UAH 600mln (USD 22mln) corporate bonds

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Postal service UkrPoshta to place UAH 600mln (USD 22mln) corporate bonds

  • The state run company will issue 6 000 A to C series bonds

PJSC Ukrposhta decided to place interest-bearing of A to C series bonds amounting to the total of UAH 600mln (USD 22mln). The nominal value of a bond will be UAH 1 000. The number of A series bonds will be 1 500 and there will be 2 000 corporate bonds in the series B, and in the series C – 2 000 securities.

The interest and coupon yields have not been announced, as of yet. The decision to make a placement of  bonds was made by the Ministry of Infrastructure on September 21, 2017.

Corporate bonds are part of the company's strategic plan of raising funds until 2020.

As of present, UkrPoshta, which is managed by the Ministry of Infrastructure, offers 50 types of services in 10 600 branches all over Ukraine.

The company employs 76 000 people. 70% of the company's expenses go for personnel payrolls, according to Lilia Bushyna the vice HR of UkrPoshta.

UkrPoshta posted UAH 415.5mln in net loss in the first nine months of 2017.

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