State Enterprise Antonov (Kyiv) announced a tender for mandatory aviation insurance services for civil aviation on May 31.
Namely for civil aviation risk insurance services (under insurance classes 1, 5, 11): aircraft insurance, aviation carrier’s liability insurance for damage caused to passengers, baggage, cargo and mail; liability insurance of commercial civil aircraft operator for damage caused to third parties.
As well as insurance of the liability of developers, manufacturers of civil aviation equipment, maintenance organizations authorized to conduct test flights for damage caused to third parties; insurance of the liability of an educational institution in the performance of training flights for damage caused to third parties. Insurance of aircraft crew members and other aviation personnel; insurance of persons who have the right to be on board an aircraft on legal grounds without purchasing tickets; insurance of employees of the customer of aviation works, employees of other organizations involved in the performance of aviation works, and persons ensuring the technological process during the performance of aviation works.
According to the message on the website of the Ukrainian Universal Exchange, the expected cost of the purchase of insurance services is UAH 5.607 million, the cost of submitting a bid is UAH 4.08 thousand.
Documents are accepted until 17:00 on June 7.
The National Bank of Ukraine (NBU) on May 23 announced a tender for voluntary medical insurance of employees with an expected cost of UAH 18.709m for the purchase of the service, according to the Prozorro e-procurement system.
Applications for participation are accepted until 12.00 on May 31.
Tender security 561,275 thousand UAH.
As reported, the winner of a similar tender for VHI announced by “Ukrnafta” on May 25, 2023 with the expected cost of procurement of services of 12.048 million UAH was SG “TAS” with a proposal of 10.819 million UAH, in connection with which July 7 with it was concluded a contract for VHI.
State Aviation Enterprise “Ukraine” (Boryspil, Kyiv Region) on May 24 announced a tender for insurance of liability of the operator of a civil aircraft of commercial aviation for damage caused to third parties and liability of an air carrier for damage caused to passengers and luggage; aircraft insurance.
According to the message in the electronic public procurement system Prozorro, the tender was announced for the insurance of aircraft crew members, other aviation personnel and persons entitled to be on board the aircraft legally without purchasing tickets.
The expected value of the insurance services purchase is UAH 26.674 mln.
The amount of security for contract execution is 5% of the value of the procurement contract.
The deadline for submission of tender offers is June 1
As reported, the only participant in a similar tender announced on April 22, 2024 was “Ukrainian Fire Insurance Company” (UPIC Kiev) with a proposal of UAH 26.665 million, with an expected cost of UAH 26.674 million. However, on May 22, the company’s offer was rejected.
State Enterprise Ukraine was established to organize, provide and perform air transportation, special flights of the highest official delegations of Ukraine and other states within the country and beyond its borders in compliance with the requirements and rules stipulated in the relevant regulations.
civil aviation, INSURANCE, RISKS, State Enterprise Ukraine, TENDER
On May 21, the Ministry of Foreign Affairs of Ukraine announced a tender for voluntary insurance of motor vehicles and compulsory insurance of civil liability of owners of land vehicles, according to the electronic state procurement system Prozorro.
The expected cost of purchase of services is UAH 342,898 thousand.
The deadline for submission of tender documents is May 29.
AUTO, INSURANCE, MINISTRY OF FOREIGN AFFAIRS, TENDER, UKRAINE
Metinvest Mining and Metallurgical Group has announced a tender offer to buy back up to $70 million of its Eurobonds due 2025 and 2026.
According to a stock exchange announcement by Metinvest B.V., the 2025 Eurobonds will be redeemed at a price ranging from 85% to 92% of the face value, depending on the results of the Dutch auction, while the redemption price of the 2026 bonds has not been determined and will depend on the results of the auction.
The bonds will be purchased for cash.
The offer is valid from April 29, 2024 and expires at 16:00 London time on May 8, 2024.
The Eurobonds due June 17, 2025 were issued in the amount of EUR300 million with a coupon of 5.625%, and the Eurobonds due April 23, 2026 were issued in the amount of $505 million with a coupon of 8.5%. Currently, they are outstanding by $234.195 million and $493.871 million, respectively.
“The rationale for the offer (to repurchase – IF-U) is to use the group’s liquidity outside Ukraine to actively manage the company’s debt burden, mitigate cash outflows for debt service, improve the group’s overall debt position, and reduce liquidity pressure in relation to the upcoming maturities of the 2025 bonds and 2026 bonds, given the group’s continued turbulent operating environment,” the tender offer explains.
It adds that the ongoing war in Ukraine, coupled with volatile commodity prices, presents unprecedented challenges for the company and its subsidiaries.
In addition, although as at 31 December 2023 the company and its subsidiaries outside Ukraine had sufficient cash balances to meet the company’s scheduled interest payment obligations for the foreseeable future, there are certain restrictions on the transfer of cash from its Ukrainian subsidiaries in accordance with the current decisions of the National Bank of Ukraine. And there is no guarantee that these restrictions will be lifted, the document says.
In turn, the proposals give bondholders the opportunity to reduce their risks in the context of the ongoing war. The group’s operations remain subject to a number of risks that are beyond management’s control, including, in particular, an increase in the intensity of Russian attacks on the front line; escalation of attacks on Ukraine’s energy facilities and, as a result, disruption of the availability of the energy system for the group’s operations; uncertainty about the sustainability of Black Sea shipping; staff shortages due to mobilization in Ukraine; and volatile prices for key products.
These risks may adversely affect the price of Eurobonds in the future, the tender justification states.
“Metinvest is a vertically integrated group of steel and mining companies. Its businesses are located in Ukraine – in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions – as well as in the European Union, the United Kingdom and the United States.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
State enterprise “International Airport “Boryspil” (Kiev) on April 25 announced a tender for the purchase of services of compulsory insurance of civil liability of owners of land vehicles (OSAGO), reported in the system of electronic public procurement Prozorro.
As noted, the expected cost of the purchase of services is UAH 157 thousand.
Security of the tender offer is not required.
The deadline for submission of bids is May 3
