NovaPay places debut open bond issue
NovaPay Credit, which is part of the NovaPay non-banking financial group, has registered a public issue of three-year series A bonds worth UAH 100 million ($2.7 million), the company reported on June 12.
The bonds can be purchased for a term of one to 18 months, while the rate of return will depend on the term, but reach up to 20%.
The payment of income will be made to the client’s bank account after the agreement on the purchase of securities expires – just like the payment of interest on deposits, the company said.
“We became the first company on the Ukrainian capital market to issue corporate bonds with a public offering during the (full-scale) war,” said NovaPay CEO Andriy Kryvoshapko.
“We believe in the national securities market, we also believe in the possibility of raising funds with the help of its tools, and we plan development in Ukraine.”
The funds raised from the placement of bonds will be directed to the development of NovaPay’s business and its credit products, he added.
NovaPay bonds are already in circulation on the secondary market. They can be purchased both by the company’s customers, employees and partners, or by anyone who wants to invest in this instrument. A pre-orderlist for securities is currently being formed.
Bonds can be purchased from NovaPay specialists who will prepare and execute agreements.
In autumn, it will also be possible to buy bonds through the NovaPay mobile app or with the help of a cashier operator at the Nova Poshta postal service office.
“It is in the issues of such well-known brands that we also see the key to the development of the investment segment in such a difficult time for the country,” said Ruslan Mahomedov, head of the National Securities and Stock Market Commission.
“We hope for the interest of Ukrainian investors in the product and the appearance of new placements on the market.”
NovaPay will charge 1% per annum on the total amount of bonds sold and invest these funds in the assistance of the Armed Forces of Ukraine.
Nova Poshta has recently issued series D bonds worth UAH 800 million ($21.9 million) without a public offering.
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