Ukrlandfarming

UkrLandFarming (ULF) is a vertically integrated agro-industrial company operating in Ukraine and focusing on the cultivation of crops, production of shell eggs (via LSE-listed subsidiary Avangard) and cattle farming. ULF operated 605,000 ha of land as of end-2016 and had about 2.7 Mt of storage facilities.
Year 2018
Issue Volume ($m) 500
Coupon Rate (% p.a.) 10.875%
Coupon Frequency S/A
Maturity date 3/26/2018
Ratings: Moody`s/S&P/Fitch -/NR/WD
Market Price* ($) 5.00
Market YTM* -
Spread over UST* -
Note: *Based on bid price.
Year 2018 2019E 2020F
Net Sales ($m) - *** ***
EBITDA ($m) - *** ***
Net Income ($m) - *** ***
EBIT Coverage Ratio (x) - *** ***
Net Debt/Equity (%) - *** ***
Covenants
Max. Consolidated Debt/EBITDA 3:1
Restriction on payment of dividend -
Financial Reports A - within 120 days; S/A - within 90 days
Events of Default
Failure to pay 30 days
Cross default $10m
Expiry of license, illegality, insolvency etc. -
Judgements $10m/60 days

Latest news about Ukrlandfarming

Nov 26, 2019
| Food & Agriculture

UkrLandFarming — Majority shareholder wanted by police over bank probe; lenders ask gov’t to meet

Ukraine’s Interior Ministry placed UkrLandFarming’s (ULF) majority shareholder and Chairman of the Board Oleg Bakhmatyuk on a wanted list at the request of the National Anticorruption Bureau (NABU).
Feb 07, 2019
| Crop growing

UkrLandFarming — Restructures UAH 4.4bn debt to Oschadbank

UkrLandFarming (ULF), the largest public farmland operator in Ukraine, and its shell egg producing subsidiary, LSE-listed Avangard, restructured UAH 4.4bn (c. $162m) of debt to state-owned Oschadbank, ULF announced. The restructuring terms were not disclosed.
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