The international financial service NovaPay will launch the sale of bonds in its application in the very near future, preliminarily at the end of February, payment system innovation director Oleksiy Ruban said on Friday.

“It seems that next week we will sell our own bonds. According to our research, Nova Poshta is trusted more than state banks,” he said at the FinYear conference, organized by the Ministry of Finance and finance.ua publications last week in Kyiv.

Ruban recalled that NovaPay, with its licenses from the National Bank, cannot attract deposits, but the bond product will have similar rates.

“It will be quite an interesting experience, I think,” said the company representative.

NovaPay Credit LLC, which placed its debut and two more public issues of interest-bearing bonds with a nominal volume of UAH 100 million each in 2023, will begin placing three more public issues of interest-bearing bonds of series D, E and F in the first quarter of 2024 with the same nominal volume.

The PFTS Stock Exchange reported that on February 15, it began public placement of series D bonds with a maturity date of January 19, 2027, and from February 19 - series E bonds with a maturity date of February 19, 2027. The nominal interest rate on these issues is 18% per annum, interest income is paid upon maturity. The nominal value of one bond is UAH 1,000.

The issuer previously stated that it intends to actively use the issued bonds in repo transactions for periods from a month to a year, creating a convenient alternative to deposits, and launch their secondary market.