The national Commission on securities and stock market (NKTSBFR) may refuse PJSC "Ukrzaliznytsia" the registration of a bond issue by 2 billion UAH.

"Ukrzaliznytsya" has encountered difficulties in issuing bonds

This was at a meeting with financial analysts and experts of investment market, said the Director for economy and Finance of "Railways" Andrey Ryazantsev, Biznestsentr reports with reference to Interfax-Ukraine.

"The issue of the bonds has not yet been resolved. The Cabinet of Ministers confirmed, but we have issues with the State securities Commission. 2210 (the law of Ukraine "On amendments to some legislative acts of Ukraine on simplification of doing business and attracting investment by securities issuers", – ed.) provides, as it turned out, the change of the Charter in the event of the bond issue. We have to adjust its statutes in line with him," said Ryazantsev.

"We now have a stumbling block, because the Commission refuses without amended articles of Association to register an issue, and the Statute is very difficult for me to register before the deadline – and that may 5", – said the Treasurer "Ukrzaliznytsya".

According to Ryazantsev, "Ukrzaliznytsya" continues the dialogue with the securities Commission on this issue, however, the chance of refusal to issue registration is quite high.

See also: Agency S&P increased the rating of "Ukrzaliznytsi"

As reported, on April 25, the Cabinet approved the release of PJSC "Ukrzaliznytsia" four-year bonds in four series 500 mn each for a total amount of 2 billion UAH.

According to the audited consolidated financial statements of PJSC "Ukrzaliznytsia", by the end of 2017, the company received 114,55 million UAH against net profit of 7.32 billion loss in 2016, but the aggregate loss amounted to UAH against 77,24 million of 7.43 billion a year earlier.

The income of "Ukrzaliznytsya" from freight transportation last year grew by 10.4% - to 60.11 billion, passenger traffic by 8.8 percent to 7.32 billion, other income by 20.7 percent to 6.51 billion.

The Cabinet of Ministers at a meeting on February 14 approved the consolidated financial plan of PJSC "Ukrzaliznytsia" in 2018 with the income measure in the amount of 92.2 billion and profit of 0.7 billion UAH.

Subscribe to Biznestsentr in Facebook, Twitter and Telegram

See comments →