There are currently three issues with Naftogaz Eurobond circulating in the market. All of them were posted in 2019.
Naftogaz, through its Eurobonds issuer, Condor Finance plc, has approached the holders of these securities worth nearly $ 1.5 billion with a proposal to defer coupon payments to them for two years, including the redemption of Eurobonds-2022 for $ 335 million, Interax-Ukraine reports. Tuesday, July 12
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“Due to the protracted events affecting Ukraine as a result of Russia’s continued extensive military intervention and its impact on Ukraine’s energy security, the Issuer, at the request of the Borrower, initiated this Consent Request to obtain the approval. of Noteholders to facilitate the Borrower’s retention of available cash to support strategic priorities. Ukraine, “said the stock exchange.
There are currently three issues with Naftogaz Eurobond circulating in the market. They were all placed in 2019: in July – three years for $ 335 million at 7.375% and five years for EUR600 million at 7.125% (a fifth of the euro bond was bought by the EBRD), and in November – 7 -years for at $ 500 million with a yield of 7.625%. The maturity date for the $ 335 million issue is July 18, 2022.
Naftogaz proposes to pay off all coupons in 2022 and 2024 Eurobonds on July 19, 2024 and redeem 2022 Eurobonds on the same day. And NAC wants to pay coupons for Eurobonds-2026 on November 8, 2024.
Recall that in June the European Bank for Reconstruction and Development approved a loan of up to 300 million euros for Naftogaz to compensate for the loss of natural gas production after Russia’s invasion of Ukraine. The first 50 million are already available for emergency gas purchases.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.