Business news from Ukraine

VODAFONE-UKRAINE TO RAISE $500 MLN OF EXTERNAL FINANCING FOR DEVELOPMENT

The shareholders of PrJSC VF Ukraine (provides mobile services under the Vodafone-Ukraine brand) on January 20 decided to provide prior consent to raising funds of up to $1 billion, but the company plans to gradually raise up to $500 million from external sources for the implementation of the development strategy, the operator’s press service has told Interfax-Ukraine.
“At the moment, the company is considering its development strategy. In the near future, we are considering options for phased attraction of external financing in the range of $500 million,” Viktoria Ruban, the head of the public relations department of Vodafone-Ukraine, said.
According to her, attracting external financing on favorable terms is consistent with the company’s development strategy and is a common practice in business.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, the company was allowed to sign loan agreements, agreements on commissions, orders from other transactions related to raising funds. The limit amount of such transactions is $1 billion (or UAH 24.253 billion at the NBU rate as of January 20, 2020).
The value of the company’s assets as of 2018 stood at UAH 21.479 billion.
The ratio of the marginal aggregate of transaction value to the value of the issuer’s assets according to the latest annual financial statements is 112.91%.

, ,