Credit institution NovaPay Credit LLC, a member of the non-banking financial group NovaPay, has fully placed the second issue of interest-bearing bonds – series “B” – for UAH 100 mln, according to the data on the website of the PFTS stock exchange.
According to them, the placement began on July 27, and on July 28, the exchange recorded a deal on the sale of all 100 thousand bonds at a price of UAH 999.45, which corresponds to a yield of 20.02% per annum.
As it was reported, the company made a decision to issue series “B” bonds on June 15, and on July 18 the issue and the bond prospectus were registered by the National Commission for Securities and Stock Market of Ukraine,
As in the debut issue of series “A”, the second issue is public, circulation term – three years, nominal interest rate – 20% per annum with payment at the end of the circulation term.
More detailed information about the results of the placement is not available yet, but the company called the placement of the debut issue through the stock exchange technical, stating that it plans to organize a subsequent active secondary public offering without attracting an underwriter.
The prospectus states that 20% of the raised funds are planned to be used for lending to legal entities, and 80% – to individuals.
As reported, NovaPay Credit in the second quarter placed the debut issue of three-year bonds for UAH 100 mln. The bonds were issued with one coupon, which is paid simultaneously with maturity – from April 14 to April 20, 2026, nominal yield – 20% per annum.
According to forecasts in the prospectus, the company plans to receive UAH 27.06 mln of net profit in 2023, UAH 242.23 mln in 2024, and UAH 411.66 mln in 2025.
In addition, at the end of June, the company decided to issue a third bond – series “C” – also for UAH 100 mln.
As indicated in the prospectus, last year the company’s revenue decreased by 40.6% to UAH 29.89 mln, largely due to the credit vacations introduced at the beginning of the war, and the net loss amounted to UAH 2.15 mln against net profit of UAH 24.40 mln a year earlier.
In Q12023 “NovaPay Credit” increased its authorized capital by UAH 120 mln – up to UAH 175 mln. The owner of the company with a 100% stake remains NovaPay LLC, and the beneficiaries are owners of Nova Posta group of companies Vyacheslav Klimov and Volodymyr Popereshnyuk.
In January-March 2023, the company increased its net profit by 56.9% to UAH 7.28 mln compared to the same period last year, while its revenue grew by 68.7% to UAH 12.7 mln.
