Nova Poshta, the privately owned delivery company, has successfully placed bonds for UAH 300 million, or $11.2 million,
Tuesday, April 23, 2019
Nova Poshta, the privately owned delivery company, has successfully placed bonds for UAH 300 million, or $11.2 million, Raiffeisen Bank Aval, the underwriter, tells Interfax-Ukraine. Maturing Aug. 14, 2020, the bonds have an annual yield of 22%, says Victoria Masna, head of investment banking at Raiffeisen. The money is to go to buying new trucks, new computer servers and modernizing the company’s 2,886 branches. Last year, Nova Poshta delivered 174 million packages, 20% more than in 2017. As part of a strategy to grow again by 20% this year, the company has opened 164 branches since Jan. 1. Reflecting the growing popularity of online shopping, one of all Nova Poshta branches are in towns with less than 10,000 people.