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 ($m) 500
Coupon Rate (% p.a.) 10.875%
Coupon Frequency S/A
Maturity date 3/26/2018
Ratings: Moody`s/S&P/Fitch -/NR/WD
Market Price* ($) 1.00
Market YTM* -
Spread over UST* -
Note: *Based on bid price.
Year 2019 2020 2021E
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

Apr 21, 2020
| Food & Agriculture

UkrLandFarming — Majority shareholder proposes debt restructuring terms for two failed banks

UkrLandFarming (ULF) majority shareholder and chairman of the Board of Directors Oleg Bakhmatyuk sent a letter to the government, the NBU and other state agencies, proposing restructuring terms for the debt owed by his bankrupt banks, VAB Bank and Finansova Initsiatyva. Bakhmatyuk offered to UAH 8bn ($0.3bn) over the next five years, including UAH 1bn (c. $40m) in 2020.
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).
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