The Ukrtelecom telecommunication operator ( Kyiv ) has decided to issue bonds of Series S, T, U, and V to the tune of UAH 1.4bn ( USD 175mn ), reads a statement made by the company. The company will issue 6,000 bonds in Series S at the face value UAH 50,000 a piece; 8,000 bonds in Series T at the face value UAH 50,000 a piece; 6,000 bonds in Series U at the face value UAH 50,000 a piece; and 8,000 bonds in Series V at the face value UAH 50,000 a piece; The papers are registered coupon ordinary unsecured bonds. They will be placed on the PFTS Stock Exchange ( Kyiv ). The securities will be floated from March 19, 2014 to March 18, 2015 . The bonds' maturity dates are: Series S from March 11 to 15, 2020 ; Series T from June 10 to 14, 2020 ; Series U from September 9 to 13, 2020 ; and Series V from December 9 to 13, 2020 . Proceeds from the bond placement will be used to replenish floating assets for securing dependable service and upgrading efficiency of the existing telecommunication network, as well as to build and modernize network infrastructure. In H1/2013, Ukrtelecom posted UAH 26.8bn ( USD 3.35bn ) IFRS net profit, down by 4.6-fold y/y. Net income from sales in H1 declined by 1.7% y/y to UAH 3.24bn. Gross profit in H1 increased by 7% y/y - to UAH 910mn. Ukrtelecom closed 2012 with a net profit of UAH 366.802mn. In 2012, Ukrtelecom increased its net revenues by 2.66% y/y to UAH 6.9bn. Ukrtelecom in 2011 cut net losses under UAS by 47.6% from 2010 to UAH 136.592mn. Its net revenues last year climbed by 0.3% to UAH 6.767bn. System Capital Management (SCM) has closed the deal on acquisition of 92.79% of shares in the Ukrtelecom telecommunication operator ( Kyiv ) from EPIC ( Austria ). According to Ilya Arkhipov , Managing Director of SCM Advisors , Ukrtelecom will center around development of broadband access to the internet and strengthening focus on business clients. SCM, as the new owner of Ukrtelecom , will continue discharging all obligations under the privatization competition conditions and the agreement with the State Property Fund . ESU, the Ukrainian subsidiary of Austria's EPIC, acquired 92.79% of Ukrtelecom for UAH 10.575bn in a privatization tender called in autumn 2010. The deal was finalized in May 2011 .
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