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Naftogaz announced its exit from default

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Naftogaz now has an opportunity to consider new financing for its capital investment plan for development.

Ukraine’s NJSC Naftogaz paid its debts to Eurobond holders and emerged from default. The company’s press service reported this yesterday.

“The official release from default on the Eurobonds 2022/26 allows us to consider the new financing of the capital investment plan for the development of the group. It precedes a lot of work with investors,” the statement said.

It is indicated that a compromise was also reached thanks to financial and legal advisers.

Let’s recall that on July 26, 2022, Naftogaz declared a default on Eurobonds because their owners rejected the restructuring proposal. Later, Naftogaz sent investors a second request, but it was also rejected.

Only at the end of May this year it became known that Naftogaz agreed to Eurobonds. It is stated that it is possible to find the most optimal solution for both investors and the Ukrainian company.

In June, the Ukrainian government approved the restructuring of Naftogaz Eurobonds.

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Source: korrespondent

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