UZ demonstrates steady passenger transportation recovery despite ongoing unprofitability and plans to pay interest on its Eurobonds. Despite the war, persistent shelling of infrastructure, and risks to staff, UZ has shown consistent growth in passenger numbers. Last year, 65.7 million people traveled by train, one million more than... #Eurobond #PassengerTransportation #UkrainianRailways #UZbonds #UZCargo #UZtarrifs
Concorde Capital’s Alexander Paraschiy writes: “The company will be able to accumulate more funds to finance its capex programs, as well as will enjoy better leverage multiples. This potentially may lead to further upgrades of the company’s credit... #UkrainianRailways #UZbonds
Ukrzaliznytsia’s $300 million Eurobond at 7.875% is getting poor reviews. Dragon Capital, co-organizer with JP Morgan, reports that 94% of the investors were from large asset management funds and 91% were from Europe and the UK. #UkrzalyznitsiaBonds #UZbonds
Ukrzaliznytsia has placed 5-year Eurobonds worth $300 million at 7.875% per annum, a banking source tells Interfax-Ukraine. This would be substantially higher than the 7% range analysts had expected. J.P. Morgan and Dragon Capital were advisors on the issue. Fitch Ratings assigned t... #UkrainianRailways #UZbonds
