The State Road Agency (Ukravtodor) has begun issuing state-guaranteed bonds. The first series of the bonds will be issued for a total of UAH 5.782 billion, the CFTS portal reports, citing the Interfax Ukraine news agency.
According to Ukravtodor’s statement on the website of the National Securities and Stock Market Commission, the issuance of Ukravtodor bonds for the indicated amount was entered into the State Register of Securities Issues on April 28, 2020.
According to the statement, the Cabinet of Ministers approved the terms under which Ukravtodor can obtain loans totaling up to UAH 19.27 billion and the conditions for providing state guarantees for them at a meeting on April 1.
According to the Cabinet of Ministers decision, Ukravtodor will issue five series of state-guaranteed bonds.
The yield rate of the bonds is set at 12.5% per annum, and it will be paid quarterly. The maturity of the bonds ranges from 1 to 5 years, depending on the series.
The Ukravtodor bonds are redeemable by the state-owned Ukreximbank.
As the CFTS reported earlier, the Cabinet of Ministers recently approved the conditions under which Ukravtodor can obtain credit funds. The credit funds will be used to finance work at 100 road construction sites approved by the government.