The government’s decision concerns the issued Naftogaz Eurobonds for a total amount of more than $800 million.
The Cabinet of Ministers agreed on the terms of the restructuring of NJSC Eurobonds Naftogaz of Ukraine mature in July 2022 and November 2026. Earlier, the company reached an agreement with the investors in these bonds, according to the NAC website on Monday, June 26.
The Eurobond restructuring is now expected to be completed by the end of July 2023.
Detailed restructuring proposals were also approved by the board and supervisory board. Naftogaz.
The government’s decision concerns Eurobonds Naftogaz for $335 million at a rate of 7.375% maturing in 2022, as well as issued bonds for $500 million at a rate of 7.625% maturing in 2026 issued by Kondor Finance PLC.
As a reminder, July 26, 2022 Naftogaz defaulted on Eurobonds because their owners rejected a restructuring offer. Later Naftogaz sent a second request to investors, but it was also rejected.
At the end of May of this year it became known Naftogaz agree to a Eurobond account. Argued that it is possible to find an optimal solution for both investors and the Ukrainian company.
Source: korrespondent
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