The company put all the responsibility for the current situation on the Cabinet of Ministers, which prohibited any actions on Eurobonds without approval. Also, NAC stressed that they have enough money for payments.
Ukraine’s national joint-stock company Naftogaz on Tuesday, July 26, announced a default on Eurobonds. It was reported on the company’s website.
It was reported that on July 26, 2022, the deadline for Naftogaz payments to Eurobond holders has expired.
The company noted that last week the Cabinet of Ministers ordered the NJSC to take any action on Eurobonds only after a separate agreement with the government. The management applied in advance for the approval of Eurobonds payments, as there were sufficient funds in the accounts. However, they did not receive permission to carry them out.
It was noted that the default of Naftogaz deprives the company of access to the international capital market.
The company put all the responsibility for the current situation on the Cabinet of Ministers, stating that by banning the payments, the government is actually taking full responsibility for raising the funds necessary to import natural gas for the heating season.
Recall that the previous day, Naftogaz warned about the threat of default, noting that the holders of the company’s Eurobonds refused to accept the request to postpone payments for two years.
Naftogaz on the edge of default
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Source: korrespondent
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