Business news from Ukraine

Nova Poshta has placed bonds for UAH 1 bln

10 July , 2024  

Nova Poshta LLC, the largest logistics operator in Ukraine and a member of the NOVA group, has fully placed its issue of interest-bearing unsecured E series bonds with a total nominal value of UAH 1 billion.
According to a report by the National Securities and Stock Market Commission (NSSMC), the company registered the report on the results of the issue on July 4, while the issue was initially registered on April 26 this year.
On May 21, the State Oschadbank (Kyiv) announced that it had entered into an agreement with Nova Poshta to purchase 15-month series E bonds worth UAH 650 million. It was clarified that this is the third deal since 2019 to finance Nova Poshta by the state-owned bank through the purchase of corporate bonds.
“Thanks to the financing raised, Nova Poshta has the opportunity to actively invest in the development and improvement of operational processes, quickly recover from the shelling of infrastructure, and our customers can continue to receive quality service,” Serhiy Yermolenko, Director of the Corporate Finance Department of the NOVA Group, was quoted as saying.
As reported, on April 26, the NSSMC also registered a UAH 1 billion issue of F series bonds on April 26, but there is no information on the results of this issue yet.
According to the 2023 report, the public offering of E series bonds started on February 19 this year, F series – on March 19, and their maturity dates are February 18 and March 18, 2027, respectively.
In 2023, Nova Poshta made two bond issues – “C” and “D” – each with a nominal amount of UAH 800 million. The C series bonds were issued for a 12-month term with a 24% p.a. interest rate, while the D series bonds were issued for a 20-month term with a 23% p.a. interest rate.
Earlier, in February 2023, Nova Poshta redeemed the UAH 700 million of Series B bonds issued in March 2020.
In 2023, the consolidated net income of “Nova Poshta” LLC amounted to UAH 43.65 billion, which is 53.3% more than in 2022, and the consolidated net profit reached UAH 4.28 billion, which is 31.1% better than in 2022.
According to its unconsolidated financial statements, in 2023, Nova Poshta LLC increased its net profit by 85.7% to UAH 3 billion 967.2 million, while its revenue increased by 54% to UAH 36.47 billion.