This decision will remain in effect until the planned debt restructuring is completed in the coming months, the company said.
NECK Ukrainergo from November 9 will temporarily stop payments on debt obligations under the “green” sustainable development bond. The company’s press service reported this on Wednesday, November 6.
“This technical solution will remain in effect until the planned debt restructuring is completed in the coming months. Ukrainergo “Together with the government of Ukraine, it is taking all necessary steps to reach an agreement with bondholders in the near future,” the statement said.
The company noted that the grounds for stopping payments are the provisions of a separate law, as well as two resolutions of the Cabinet of Ministers and an order of the authorized NEK management body. Ukrainergo from the state – the Ministry of Energy. These regulations were adopted as part of Ukraine’s fulfillment of the terms of cooperation with the IMF.
The company has already informed creditors of the temporary suspension of Eurobonds payments and assured them of its financial stability.
We remind you that this summer Ukraine avoided default. A final deal was reached with creditors to restructure the government’s debt by $20 billion through 2029.
And last year Naftogaz came out of default, having been able to pay debts to the owners of Eurobonds.
Source: korrespondent
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