Ukrainian Railway pays first coupon on 2024 bond
13 January 2020
Railway operator Ukrainian Railway (RAILUA) paid a USD
24 mln coupon on its new Eurobond issued in July 2019, the company reported on
Jan. 11. The payment was made on time, demonstrating the company’s status as a
reliable borrower, according to the report. Recall, Ukrainian Railway placed a five-year USD 500 mln Eurobond
at the rate of 8.25% in early July, and issued an additional USD 94.9 mln in bonds
to the EBRD in September.
Alexander Paraschiy: This year, Ukrainian Railway is scheduled to pay USD 59.9 mln in
coupon and amortization for 2021 bond in March and another installment for USD
57.4 mln in September, as well as a USD 24.5 mln coupon for its 2024 bond in
July. We see the company’s operating profit enabling smooth payments.
Therefore, we maintain our neutral outlook on RAILUA bonds.
