The National Commission on Securities and Stock Market (NSCM) has registered the report on the results of the debut issue of bonds (series A) for 60 million UAH LLC “FC ”Finvin” (Kiev), which belongs to brothers Alexander and Andrei Shpigov.
As stated in the decision of the SEC of December 12, 2025, it is an issue of registered corporate bonds without making a public offering. The nominal value of the bond is UAH 1 thousand, information on other parameters of the issue is not yet available.
According to the information on the website, Finvin FC provides financial leasing and lending services for business, was established in 2019, the authorized capital is UAH 20.1 million.
According to the results of three quarters of 2025, the company received 5.03 million UAH of net profit, which is almost 4 times more compared to the same period of 2024 (1.32 million UAH). Its revenue for the first 9 months of this year amounted to UAH 472.2 mln, while in the same period last year there was none.
In January-September this year, the company received UAH 30m of additional capital, which increased its equity to UAH 55.93m.
According to the National Bank, the owners of FC Finvin are brothers Alexander Shpig and Andrey Shpig, who own 44% each. Another 10% belongs to the closed non-diversified venture capital unit investment fund Leasingfuche, the assets of which are managed by AMC Brightfuche Asset Management LLC, the ultimate beneficiaries of which are also brothers Shpig, and 2% of the company belongs to Alexander Naumenko.
The Shpiga brothers are heirs of the former owner of Aval Bank Fyodor Shpiga and co-owners of several significant assets, including the capital’s River Mol and entertainment center Blockbuster, and the holding company Dairy Alliance.
Indonesia’s Finance Ministry is considering issuing its first yuan-denominated government bonds (panda bonds) in 2026, the Financial Times reported, citing two sources.
The interest in panda bonds comes as Beijing promotes the use of its currency in international trade and finance to increase global influence and reduce dependence on the U.S. dollar.
Earlier this year, Brazil, Pakistan and Slovenia announced plans to issue panda bonds.
“From the perspective of international issuers, it provides more opportunities, broadens the investor base in the long term and helps lower the cost of financing for the country,” said OCBC Asia macroeconomic research head Tommy Xie. – “People want to move away from the dollar and look at other markets.
Panda bonds have become increasingly popular since 2023, thanks to Beijing’s regulatory reforms and lower financing costs. In 2024, panda bond issuance reached a record 195 billion yuan ($27 billion), according to Wind. However, it still represents only a fraction of China’s debt market.
Panda bond issuance is expected to grow significantly in the coming years and will be an important factor in the globalization of the yuan, the Institute of International Finance (IIF) said in a report earlier this year.
Analysts also forecast the issuance of “dim sum” (bonds denominated in yuan but issued outside mainland China, mainly in Hong Kong) to rise to a record this year. Specifically, Indonesia issued its first such bonds worth 6 billion yuan in October and plans to continue issuing “dim sum” next year, sources told the FT.
Liberty Finance Financial Company LLC (hereinafter referred to as Liberty Finance) has successfully completed the placement process and registered a report on the results of the company’s first ever bond issue.
The National Securities and Stock Market Commission (NSSMC) registered the report on the results of the issue of registered corporate discount bonds of series A. This decision is the final confirmation of the successful placement of securities among a pre-determined group of investors.
Liberty Finance has become one of the few financial companies on the market to take such a step, confirming its high level of capitalization, financial stability, and the trust of regulators.
“The successful placement of our first bond issue is a landmark event for Liberty Finance and a reflection of our reliability. To conduct the issue, the company underwent a thorough audit and confirmed to the Securities Commission that it has sufficient capitalization and financial standing. The NSSMC granted permission for the placement, recognizing us as a reliable issuer. This demonstrates the transparency of our activities and compliance with high regulatory standards,” the company said.
The issue is closed. The bonds were placed among a limited list of specified investors. They were issued with a par value of UAH 1,000 and a maturity date in 2028.
“The funds raised will be used to ensure the company’s successful operation. We are a systematic profitable business with decent capitalization, which allows us to ensure the repayment of all obligations on the issued securities. Our activities are fully compliant with the regulations of the National Bank of Ukraine, which exercises constant control, and the Commission has twice verified our reliability during the issuance process, which provides our investors with additional guarantees,” Liberty Finance said.
The successful issuance of Liberty Finance bonds is an important step in the company’s financial development and confirmation of its stability in the Ukrainian market.
Liberty Finance is one of the largest licensed operators in the currency exchange market. Its authorized capital is UAH 25 million, and its equity capital exceeded UAH 188 million at the beginning of 2025. According to the NBU, the company is one of the largest taxpayers in its segment.
At the end of May, the National Securities and Stock Market Commission (NSSMC) approved the decision to place two new bond issues of Nova Poshta, Ukraine’s leading express delivery company: series G and H with a nominal value of UAH 1 billion each.
According to the regulator’s decisions, the issuer plans to conduct a private placement of bonds.
The SMIDA disclosure system indicates that the nominal value of one bond is UAH 1,000.
It is noted that 35% of investments will be attracted to the development of the terminal network, 15% to IT, 30% to BDF containers and motor transport, and 20% to packaging for parcels.
According to Nova Poshta’s financial report for the first quarter of 2025, its net consolidated revenue increased by 20.7% compared to the first quarter of last year, to UAH 14 billion 333.2 million, while net profit decreased by 21.4%, to UAH 567.7 million.
The main activity of Nova Poshta remains the express delivery of documents, parcels, and palletized large-size cargo. The company is the leader in express delivery in Ukraine. Its ultimate beneficial owners are Volodymyr Poperechnyuk and Vyacheslav Klimov.
According to the rating agency Standard Rating, as of early April this year, Nova Poshta had total accounts payable of UAH 13.51 billion and, in addition to long-term bank loans, used resources raised from the issue of two series of bonds – E and F, each worth UAH 1 billion, which were registered by the National Securities and Stock Market Commission on April 26, 2024.
The nominal yield on Series E bonds is 17% per annum, Series F bonds is 16% per annum, and the interest period is 91 days. The maturity date of Series E bonds is May 31, 2026.
In January 2025, Nova Poshta redeemed Series D bonds issued in April 2023 in the amount of UAH 800 million, and prior to that, in 2020-2024, three more bond issues totaling UAH 1.8 billion.
On May 2, NovaPay International Financial Service (NovaPay TM) will launch a public offering of the 10th series of bonds – Series J – with a total nominal amount of UAH 100 million of its subsidiary NovaPay Credit LLC, which will be used by the issuer in its bond repurchase program, which is an alternative to deposits.
According to the website of the National Securities and Stock Market Commission (NSSMC), it registered the issue and approved the prospectus of the J series bonds on April 25.
According to the prospectus, the bonds are issued for a term of three years, the nominal interest rate has been increased to 18% p.a. from 17% p.a. in previous series, and interest income is paid at the end of the circulation period.
The placement price was set at the par value of UAH 1 thousand per bond.
Univer Capital LLC was appointed as the administrator of the J series bonds, as well as the previous ones.
“The funds raised as a result of the bond issue through a public offering are planned to be used in the following areas: credit operations for legal entities – 20% of the actual funds raised; credit operations for individuals – 80% of the actual funds raised,” the prospectus says.
As reported, in 2023, NovaPay made three public issues of interest-bearing bonds of series A, B, and C for UAH 100 million each, and last year issued six more series of bonds – D, E, F, G, H, and I. In particular, in October-December 2024, three series of bonds – “G”, “H” and “I” – were placed for a total amount of UAH 290 million, which increased the total amount of the company’s securities in circulation to UAH 890 million.
Securities of all series, except for “B” and “I”, are used for the repurchase program and are available for purchase in the NovaPay mobile application, while “B” and “I” bonds are offered for sale to institutional clients, with interest income paid quarterly.
According to the prospectuses, the last three series of bonds have a three-year maturity. The nominal interest rate on them is 17% per annum, while for the three previous issues it was 18%.
NovaPay, which promotes most of its bonds as an alternative to bank deposits through a one- to 12-month repurchase scheme. Since April 17, the company has slightly raised interest rates on them: now they range from 10% per month to 19% per year, and a new investment term of four months at a rate of 17.5% per annum has been added.
NovaPay is an international financial service founded in 2001. It is part of the Nova group and provides online and offline financial services at Nova Poshta offices. It was the first non-bank financial institution in Ukraine to receive an expanded NBU license in 2023, which allowed it to open accounts and issue cards, and the first non-bank to launch its own financial application at the end of last year.
According to the prospectus, NovaPay Credit plans to increase its interest income to UAH 802.1 million this year, and to UAH 1 billion 515.1 million next year, and to generate UAH 518.9 million and UAH 1 billion 30.6 million in net profit, respectively.
Last year, the company’s net profit increased to UAH 89.2 million from UAH 40.3 million a year earlier, while revenue grew to UAH 285.6 million from UAH 95.6 million.
TAS Neil LLC (Khmelnytsky), a manufacturer of nails and various fasteners from the TAS Group of Sergey Tigipko, has issued B series bonds for a total nominal value of $0.5 million.
The National Securities and Stock Market Commission (NSSMC), which registered the report on the results of the issue on March 3, toldInterfax-Ukraine that the placement was closed, with the face value of one bond at $1,000.
The bonds have a maturity of October 22, 2026, and no information on the yield is available.
According to the NSSMC database, in early August last year, it registered two issues of TAS Neil bonds – series A and B for $0.5 million each. The report on the results of the Series A issue was registered on November 28 last year.
“TAS Nail (formerly Nail) was founded in 1994 as a nail manufacturer. In addition to traditional construction, carpentry and roofing nails, the company produces special types of nails – in coils and loose nails used in the production of wooden containers and pallets, as well as self-tapping screws, screws, confirmations, bolts, nuts, washers, threaded rods, anchors, drills, etc.
TAS Group announced its intention to acquire Neil in early 2022.
According to the YouControl system, in 2024, TAS Neil increased its revenue by 9.3% to UAH 362.86 million, but its loss increased 5 times to UAH 46.78 million.
