We are talking about the payment of 335 million dollars of the debt body (for the issue of bonds in 2022) and 45 million euros of interest (for the issue of 2024).
Eurobond holders have rejected Naftogaz’s repeated requests to defer payments for two years. On Monday, August 8, Bloomberg informed.
Thus, the agency refers to the statement of legal counsel to Dechert, which represents a group of investors.
It states that “Naftogaz is financially sufficient to pay its debts.”
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.
We are talking about the payment of $335 million of the debt body (for the issue of 2022) and 45 million euros of interest (for the issue of 2024).
The Ministry of Finance of Ukraine announced a proposal to holders of the country’s Eurobonds to postpone payments to them for two years, as well as a change in the terms of circulation of the government’s GDP warrants. Creditors refused.
On August 3, Naftogaz sent investors a second request.
Naftogaz default. What does this mean
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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.