Ukraine’s National Securities and Stock Market Commission (NSSMC) has registered the first corporate bond issue of Ukrainian defense technology company Vyriy Industries LLC. The Series A bonds will have a total nominal value of UAH 5 billion. The regulator approved the registration at its meeting on August 4, 2026.
According to the NSSMC’s published decision, the company plans to conduct a private placement of the bonds without a public offering. The nominal value of each bond will be UAH 1,000. Other terms of the issue, including maturity, interest rate and the range of potential investors, have not been disclosed in the published materials.
Registration of the bond issue will enable the company to raise long-term financing for further business development. However, no official information has yet been disclosed regarding the intended use of the proceeds.
Vyriy Industries is one of Ukraine’s largest defense technology companies, specializing in the development and production of FPV drones as well as components for unmanned systems. The company is owned by Oleksii Babenko, who is also a co-owner of the Ukrainian online media outlet Babel.
The bond issue was registered several weeks after high-profile investigative actions involving the company. In July 2026, Ukraine’s State Bureau of Investigation (SBI) was investigating the possible overpricing of unmanned aerial vehicles manufactured by Vyriy. Investigators were examining information concerning the alleged use of a network of companies and individual entrepreneurs with indications of fictitious activity to artificially inflate costs.
As part of the investigation, on July 7 SBI officers conducted searches at the company’s offices and at the residence of its owner, Oleksii Babenko, during which funds were seized.
Subsequently, on July 22, Kyiv’s Pecherskyi District Court rejected investigators’ request to freeze UAH 32 million seized during the searches. Following the court’s decision, the funds were returned to the company.
The registration of the bond issue indicates Vyriy Industries’ intention to use capital market instruments to raise financing despite ongoing law enforcement scrutiny of the company’s activities.
.jpg)
