10 Aug 2022 16:31

Vodafone Ukraine pays $12.4 mln of interest on Eurobonds

MOSCOW. Aug 10 (Interfax) - The Vodafone Ukraine mobile operator, owned by Azerbaijan's NEQSOL Holding, has concluded the regular payment of interest on its Eurobonds, Ukrainian media outlets said on Wednesday, citing the mobile operator's website.

"Despite the difficult conditions, we continue to fulfill our commitments. This demonstrates the stability of our business and loan fund management efficiency," Vodafone Ukraine CEO Olga Ustynova was quoted as saying in a press release published on the company's website.

As of today, the amount of the bond balance is $400 million. The company has already redeemed and made a premature payment of $100 million, the operator said.

As reported, in early February 2020, Vodafone Ukraine placed five-year $500 million Eurobonds at 6.2%. The 144A/Reg S bonds were marketed to international investors in Europe and the United States.

Under the terms of the Eurobonds' placement, the company is due to pay coupons, or interest on Eurobonds, every six months.

In 2019, NEQSOL Holding, acting through Telco Solutions and Investments LLC, controlled by Bakcell, signed an agreement with PJSC MTS, Russia's mobile provider, on the purchase of the Russian company's telecommunications business in Ukraine. In late December of that year, NEQSOL Holding announced successful financing by J.P. Morgan Securities Plc and Raiffeisen Bank International A.G. and the completion of the acquisition of Vodafone Ukraine for $734 million, including a deferred payment of approximately $84 million.

Holding NEQSOL Holding group of companies has over 25 years of experience operating in a variety of industries and in different countries, according to the press release. Its areas of business include oil and gas, telecoms, construction, and other high technology sectors in the United Kingdom, the United States, Turkey, Azerbaijan, Kazakhstan, the United Arab Emirates, and Bangladesh. The holding stepped into the telecommunications industry in the early 2000s. The holding's companies offer mobile communications, international transit and wholesale Internet services, leased lines, data center services, etc.

Businessman Nasib Hasanov is the founder and 100% owner of NEQSOL Holding, including Nobel Oil Services (UK), Nobel Oil E&P (UK) Limited (trade name Nobel Upstream), Bakcell LLC, and OJSC Norm.