Vodafone Ukraine raises eurobond redemption price for second time – up to 92% of par
The second largest Ukrainian mobile operator VFU Ukraine (Vodafone Ukraine), which, in connection with the payment of dividends since the end of May, has redeemed its own eurobonds for almost $7 million in three offers, has announced a second increase in the redemption price at the fourth such tender – up to 92% of par compared to 90% at the end of August and 85% in the initial offer from August 13.
As noted in the company's announcement to the Irish Stock Exchange, the maximum redemption amount remained at $5.12 million, to which it was increased from $3.945 million last week.
The deadline for accepting applications has been extended from September 11 to September 18, and settlements are now planned for approximately September 25.
The first two times Vodafone Ukraine redeemed bonds for the equivalent of EUR 1 million. The debut redemption was announced at a price of 99% of the nominal value, and the second - 90% of the nominal value. The company did not announce the results of the second redemption on the exchange, while the scaling factor of the first redemption was 0.0040355668.
According to the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received applications for $53.395 million and satisfied them for $5.208 million. The scaling factor was 0.1315451889487317. Bonds with a maturity in February 2027 and a nominal rate of 9.625% per annum were issued for $300 million. After the cancellation of the redeemed bonds, the total nominal value of the bonds remaining in circulation is $292.532 million.
