JSC Ukrainian Postal Service ‘Ukrposhta’ places UAH 150mln (USD 6mln) corporate bonds

JSC Ukrainian Postal Service ‘Ukrposhta’ places UAH 150mln (USD 6mln) corporate bonds

Investment Capital Ukraine (ICU) was an organizer of the placement

JSC Ukrainian Postal Service ‘Ukrposhta’ placed UAH 150mln (USD 6mln) corporate bonds of UAH 600mln arrangement. Investment Capital Ukraine (ICU) acted as an organizer and co-investor of the placement. The raised funds will be channeled into development and renovation of the infrastructure of Ukrposhta.

The bonds placement gave the opportunity to attract funds for the development of the major postal service in the country. The funds will be used for purchases of new transportation vehicles, computers, energy efficient equipment and other, told Alexander Cherniavskiy the vice CEO for financial management of Ukrposhta.  

Ukrposhta issued UAH 600mln bonds in A, B and C series in total of 6,000 bonds with a nominal value of UAH 100,000 (≈USD 4,000) each.

The organizer ICU invested UAH 50mln in the bonds and plans to support trading of the corporate bonds offering them to the institutional investors, like insurance companies, pension funds and the non-residents institutional players too.

To note, the Ministry of Infrastructure of Ukraine manages Ukrposhta. Ukrposhta has more than 10 600 representative offices over the country providing some 50 services to the public and B2B.

The company posted UAH 416mln in net loss for the first 9M of 2017. Recently, the former head of the customer service of Nova Poshta (private postal service major in Ukraine) Maksim Rabinovych became the vice CEO for the development of Ukrposhta.

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