VF Ukraine

Vodafone Ukraine is a leading Ukrainian mobile operator providing a wide range of services including 3G/4G data transfer, mobile voice communications, messaging, fixed Internet and mobile TV. The Vodafone Ukraine serves 19.8 million customers.
Year 2025
Issue Volume ($m) 500
Coupon Rate (% p.a.) 6.20%
Coupon Frequency S/A
Maturity date 2/11/2025
Ratings: Moody`s/S&P/Fitch -/B/B
Market Price* ($) 103.50
Market YTM* 4.72%
Spread over UST* 434
Note: *Based on bid price.
Year 2019 2020 2021E
Net Sales ($m) 619 *** ***
EBITDA ($m) 322 *** ***
Net Income ($m) 98 *** ***
EBIT Coverage Ratio (x) 5.57 *** ***
Net Debt/Equity (%) 32.3% *** ***
Covenants
Financial Reports A - within 120 days; S/A - within 60 days
Max. Consolidated Net Debt/EBITDA* 2.75:1

Company Peers

Latest news about VF Ukraine

May 24, 2021
| Banking

Vodafone Ukraine — Buys back and cancels notes for $10m

Vodafone Ukraine (VFU), Ukraine’s second largest mobile operator announced that VFU Funding PLC had on May 20 repurchased and cancelled $9.9m of its Reg S debt securities in accordance with the terms of the loan agreement.
May 14, 2021
| TMT

Vodafone Ukraine — Conference call notes

Vodafone Ukraine (VFU), Ukraine’s second largest mobile operator, held a conference call on its 1Q21 results. The company reported 1Q21 revenues of $169m (‑4% y-o-y), EBITDA of $91m (‑2%) and net income of $32m (vs. $30m loss in 1Q20). The quarterly EBITDA margin rose by 0.8pp y-o-y to 54.1%. CAPEX was down 11% y-o-y to $32m. End-1Q21 net debt stood at $467m, yielding a Net Debt to LTM EBITDA of 1.3x (vs. 1.4x at end-2020).
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