Kommersant got information, that one of Ukrainian leaders of corporate telecommunications segment – “Datagroup”, is discussing eurobonds selling for USD 50 million with their investors. Bonds can be converted to shares during IPO procedure, which is planned in next 3 years. Experts say that in case this step will be successful it will be very first experience for Ukrainian telecommunication companies.

According to presentation, which was sent to investors, “Datagroup”, a Ukrainian telecommunications operator, is planning to issue USD 50 mln in Eurobonds with an 11-12% coupon (paid semiannually). Datagroup plans to make the notes convertible into shares in an IPO to take place 24-36 months after the Eurobond placement. Also presentation is mentioning that shares will be traded through one of EU stock markets in 24-36 months after Eurobonds issuing. In case company will not finish with IPO during this time – it will pay penalties to investors.

Currently there is no any comments from “Datagroup”. According to inside information which was received by Kommersant – preliminary it was agreed to invite USD 30 million.

“Datagroup” has very strong positions on Ukrainian telecommunication market. “Datagroup” is taking second place in Ukraine in fiber-optics channels’ coverage and first place in satellite communications (79% of Ukrainian market). According to statistics collected in 1st quarter 2009 company had leading position on market of Internet traffic in Ukraine (35%).

“Datagroup” reported its 2009 unaudited financials: USD 48.6 mln in revenue (up 8.6% yoy), EBITDA of USD 20.3 mln (up 33.5% yoy) and an EBITDA margin of 41.8%, vs. 34.0% in 2008.

Source: Kommersant