The company failed to make Eurobonds payments in July and declared technical default. Trying to negotiate with investors.
Naftogaz has announced success in negotiations with most Eurobond holders.
According to the company, 77% of investors agreed to defer payments for two years. Two more issues were rejected.
Thanks to this, Naftogaz can repay the debt body in the amount of 600 million euros not in 2024, but in 2026, and will start paying interest on it in 2024.
The amount of interest deferred in 2022-2024 is 90 million euros.
“In the near future, Naftogaz will apply to the Cabinet of Ministers with a proposal to develop a joint position on further measures to restructure the company’s Eurobonds,” the statement said.
At the same time, holders of Eurobonds maturing in November 2026 ($500 million) did not support the new proposal on changes to the terms of the company’s debt obligations at the second meeting.
Recall that on July 26, Naftogaz was unable to use Eurobonds, as their holders rejected the restructuring proposal. On August 3, Naftogaz sent a second request to investors. The media reported that he was also rejected.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
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.