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Concorde Capital Research: Ukrzaliznytsia signs railcar financing deal with EBRD

June 23, 2017 | Cbonds

Ukrainian railway monopoly Ukrzaliznytsia (RAILUA) has signed an agreement with the EBRD on the preliminary conditions of financing a purchase of new freight railcars, Interfax-Ukraine reported on June 23, citing the blog of CEO Wojciech Balczun. He estimated the costs of the purchase program at USD 260 mln, of which the EBRD will provide USD 150 mln and the rest will be attracted from other sources. The financing may be provided in the local currency.

Earlier this week, Ukrzaliznytsia announced its plan to issue UAH 2.0 bln (about USD 70 mln) in local bonds, reporting that Concorde Capital was preliminarily chosen as the underwriter of the bonds.

Based on the company’s strategic plan for 2017-2021, it is going to invest UAH 18 bln (about USD 650 mln) for the purchase of about 20,000 new railcars. Ukrzaliznytsia’s operational freight railcar park was 70,000 units as of end-2016. Its combined attrition was estimated by the company at over 90%.

Company: Ukrainian Railway

Full company nameUkrainian Railway
Country of riskUkraine
Country of registrationUkraine
IndustryTransportation

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