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Naftogaz will offer Eurobond holders a new deal

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Naftogaz is working with all stakeholders to obtain the consent of Eurobond holders.

Ukraine’s Naftogaz, which defaulted on two of its three Eurobond issues the previous day, will immediately offer Eurobond holders an agreement to defer payments in accordance with the conditions specified by the government in Decree No . 625-r of July 21. It was reported on the NAC website on Wednesday, July 27.

“This process should be part of a joint effort by the government and other state-owned companies to offer similar terms for deferring payments on Eurobonds,” the press release said.

Naftogaz assured that they are working with all interested parties to obtain the consent of Eurobond holders.

Recall that on July 26, Naftogaz announced a default on Eurobonds. 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.

In its turn Correspondent.net thought what Naftogaz’s default would lead to.

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Source: korrespondent

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