The company believes that the likely buyers are those who know the group’s shareholder and place liabilities in TAS banks.
Enterprises Group “TAS” Sergei Tigipko given the situation on the financial market decided to issue corporate bonds totaling UAH 1.885 billion and € 3 billion ($ 3.56), reports Interfax-Ukraine.
“This year it was decided to issue a new instrument for the group, which currently has prospects in the selected market and may be optimal – corporate bonds,” – said the director of international projects “TAS” Roman Gorokhovsky.
“There is a gap and a possibility between the rates at which bank customers would like to be placed and the rates at which the group companies can attract financing,” he explained.
Given the presence of companies from different sectors in the TAS Group, potential investors have a very good choice and opportunity to agree with each investor on individual terms and profitability.
According to the director of the department, the probable buyers of corporate bonds of TAS Group companies are those who know the group’s shareholder and place liabilities in TAS banks. “The risks are almost the same, because the owner is the same, but the profitability of the company can offer higher,” – said Gorokhovsky.
He pointed out that LLC “Center for Financial Solutions” (TM CreditMarket) issued bonds for 425 million UAH, the second in the Ukrainian market leasing company LLC “ULF-Finance” – for 500 million UAH, PJSC “Dniprovagonmash” – for 200 million UAH, the third on the market, the private owner of grain wagons LLC “TAS-Logistics” – by UAH 200 million, PJSC “Asphalt Concrete Plant” Capital “- by UAH 160 million, TAScombank – by UAH 400 million and one of the largest producers of juice concentrates LLC” Juice Plant Kodymsky ”- € 3 million
The TAS-Agro agricultural holding, which is part of the group, is also working on the bond issue.
The representative of the TAS group clarified that on average the company spent 3-4 months on the issue of bonds, which can be compared with the time to attract a loan. “We made mostly closed issues so that there would be less documentation,” Gorokhovsky added.
Asked why the group chose to issue bonds by individual companies rather than consolidated, he explained that the group’s asset structure is quite “diverse”, there is no single area of investment and there is no single vertical integration between the assets acquired.
The director of the department reminded that the condition for any bond issue on the international market is at least three years of audited financial statements of the consolidated group. “To date, we do not have such reporting. Although certain actions are being taken in this direction, ”he said.
It will be recalled that the TAS Group was founded in 1998. Its business interests include the financial sector (banking and insurance segments), industry, real estate, agriculture, and venture projects. The founder and main shareholder of the group is Serhiy Tigipko.
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