NEQSOL Holding announces partial redemption of Vodafone Ukraine's Eurobonds

Economy Materials 14 September 2021 14:16 (UTC +04:00)
NEQSOL Holding announces partial redemption of Vodafone Ukraine's Eurobonds

BAKU, Azerbaijan, Sept. 14

By Sadraddin Aghjayev - Trend:

The NEQSOL Holding international group decided to start buying out the bonds of the Vodafone Ukraine mobile operator 4.5 years ahead of time, Trend reports citing Ukrainian media.

For the first time, Vodafone Ukraine issued Eurobonds in the amount of $500 million in February 2020 with maturity until 2025.

To date, NEQSOL Holding has already redeemed 10 percent of the bonds of the Ukrainian mobile operator.

According to NEQSOL Holding estimates, Vodafone Ukraine is growing at market rates and even outstrips them in a number of indicators.

“Therefore, taking into account the stability of the implementation of the financial plan and the company's investment plan, it was decided to focus on debt management and reduce it by reducing debt service costs,” the company said.

The early redemption of bonds is a proof of Vodafone Ukraine's successful financial performance.

“Good financial results have allowed, together with bondholders, to revise the loan obligations, which is an indicator of high trust and confidence in the company's sustainable development,” NEQSOL Holding said.

“Thanks to the revision of obligations on the Vodafone loan, Ukraine will become more flexible in terms of further investments, distribution of dividends and management of its resources,” said the CFO of NEQSOL Holding Imran Ahmadzade, quoted by the media.

NEQSOL Holding is an international group of companies with main business areas covering energy, telecommunications, hi-tech, and construction industries.

The group of companies operates in the UK, the US, Turkey, Azerbaijan, Ukraine, Georgia, Kazakhstan, the UAE, and more, providing services to over 25 million customers across the globe.


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