The Odessa railway (part of the Ukrzaliznytsia public joint-stock company) has raised UAH 200 million by placing bonds of the series L-R with a total nominal value UAH 810 million. The Interfax Ukraine news agency reported this, citing the Odessa railway’s information disclosure to the National Commission on Securities and the Stock Market.
The company managed to sell only 200,000 bonds of the series P out of the 250,000 it issued. The bonds of the other series were not sold.
The Odessa railway decided on 22 September 2014 to place bonds for UAH 810 million. It planned for use proceeds from the placement of the bonds to finance capital investments, including upgrade and modernization of its fixed assets, improvement of the system for rapid movement of transit cargo within Ukraine, as well as to increase its working capital.
The securities were placed on the PFTS stock exchange (Kiev). The yield rate of the series P bonds is set at 23.5% per annum. These bonds will mature on 5 November 2017.
The Odessa railway’s series B bonds worth UAH 200 million maturing on 27 October 2014 and its series E bonds worth UAH 100 million maturing on 8 November 2015 are also currently in circulation.