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Ukrzaliznytsia studying issue of eurobonds – company
KYIV. Sept 16 (Interfax-Ukraine) – The issue of Ukrzaliznytsia eurobonds is currently still under discussion.
The press service of Ukrzaliznytsia told Interfax-Ukraine that the final decision on their issue will be made by the Supervisory Board after a thorough study of all possible and beneficial options for raising funds for the company.
"The negotiation procedure for purchasing the services of an auditor to support the issue of eurobonds is a technical decision. These services will be provided and will be paid for by Ukrzaliznytsya only if the final decision on the issue of eurobonds is made," the company said.
As reported with reference to the ProZorro plattform, the Service Support Center branch of JSC Ukrzaliznytsya intends to purchase audit services from Ernst & Young Audit Services LLC to accompany the issue of eurobonds via additional placement of Loan Participation Notes (LPN) worth UAH 3.7 million.
"At the meeting of the Board of JSC Ukrzaliznytsia on September 2, 2021, it was decided to start work on attracting an external loan from the international capital market via an additional issue of Loan Participation Notes in the amount of at least $200 million for the needs of JSC Ukrzaliznytsia to finance capital expenditures," the Service Support Center branch said in the ProZorro system.
Early July 2021, Ukrzaliznytsia placed five-year eurobonds for $300 million at 7.875% per annum. Ukrzaliznytsia plans to use the raised funds to service the company’s debt obligations and to repay the loan to JSC Sberbank. Part of the funds is also planned to be used to replenish the working capital of Ukrzaliznytsia.
