Nova Poshta from the Nova Group, a leading logistics operator in Ukraine, notes a significant demand for its bonds from a wide range of institutional investors, the group’s financial director Petro Fokov said. Nova Poshta conducts closed placement of bonds among a predetermined circle of institutional investors, but they can also be purchased by individuals on the secondary market.
“We have individual bondholders, but there are not so many of them compared to banks, insurance companies, and pension funds,” Fokov stated, adding that pension funds have invested about ₴60M.
He noted that Nova Poshta is one of the leading issuers of hryvnia bonds in Ukraine and, in January 2023 became the first issuer after the start of the full-scale Russian invasion to resume issuance.
The advantage of hryvnia bonds for the issuer is the absence of collateral, which is currently difficult to assess for bank loans. However, bonds are more expensive and require greater transparency in activity.