The international financial service NovaPay (TM NovaPay) will issue an “L” series of bonds with a total nominal value of UAH 100 million, which will be the 12th such series in their overall issuance program.
According to the information disclosed in the SMIDA system, the issuer is again the NovaPay subsidiary – LLC “NovaPay Credit,” and the decision was approved by the general meeting of participants on July 16.
The bonds are planned to be placed among an undefined circle of persons through a public offering, without involving an underwriter, with a nominal bond value of UAH 1,000.
The company notes that currently 10 series of bonds are in circulation—from “A” to “J”—each with a total nominal value of UAH 100 million, except for series “I,” which has a total nominal value of UAH 90 million. It is stated that the total nominal value of securities of LLC “NovaPay Credit” in circulation at the time of the decision amounts to 506.7% of the company’s authorized capital.
The funds raised are planned to be used for lending operations for individuals and legal entities—80% and 20% respectively.
NovaPay was founded in 2001 as an international financial service and is part of the Nova group (“Nova Poshta”), providing financial services online and offline at “Nova Poshta” branches. According to the company’s website, it employs about 13,000 people in more than 3,600 “Nova Poshta” branches throughout Ukraine. According to the National Bank of Ukraine, the company accounts for about 35% of the total volume of domestic money transfers.
NovaPay was the first non-bank financial institution in Ukraine to receive an extended license from the NBU in 2023, allowing it to open accounts and issue cards. It also launched its own financial app with a wide range of services at the end of last year, being the first non-bank to do so.
As reported, in 2023 NovaPay conducted three public issuances of interest-bearing bonds of series “A,” “B,” and “C,” and last year issued six more series of bonds—“D,” “E,” “F,” “G,” “H,” and “I,” and this year issued series “J,” all with a nominal value of UAH 100 million. This year, a decision was also made to issue series “K” bonds for UAH 100 million. Securities of all series, except “B” and “I,” are used for REPO operations as an alternative to bank deposits and are available for purchase via the NovaPay mobile app, while bonds of series “B” and “I” are offered to institutional clients with quarterly interest payments.
According to the prospectuses, the bonds of the last four series were issued for three years. The nominal interest rate on these is 17% per annum, while the three previous series had an 18% rate.
According to the emission prospectus, “NovaPay Credit” plans to increase its interest income to UAH 802.1 million this year and to UAH 1.515 billion next year, and expects to receive net profit of UAH 518.9 million and UAH 1.0306 billion, respectively.
Last year, the company’s net profit grew to UAH 89.2 million from UAH 40.3 million the previous year, with revenue rising to UAH 285.6 million from UAH 95.6 million.
