A week ago, Naftogaz defaulted on Eurobonds and offered new terms to creditors to repay the debts.
The government approved new conditions for the restructuring of Naftogaz’s debts to creditors, according to the relevant resolution.
The document authorizes agreements with Kondor Finance plc in the amount exceeding UAH 3 billion on changes in loan agreements dated July 17, 2019 and November 6, 2019 by concluding additional agreements and/ or changes to these agreements.
At the same time, the new conditions themselves are not published.
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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