From November 9, NEC Ukrenergo temporarily stops making payments on debt obligations under “green” sustainable development bonds.
This technical solution will remain in effect until the planned debt restructuring is completed in the coming months.
NEC Ukrenergo and the government are taking all necessary measures to reach an agreement with bondholders in the near future, the company’s statement says.
The basis for stopping payments is the provisions of a separate law, as well as two resolutions of the Cabinet of Ministers and an order of the authorized management body of NPC Ukrenergo from the state – the Ministry of Energy. These regulations were adopted as part of Ukraine’s fulfillment of the terms of cooperation with the International Monetary Fund.
NPC Ukrenergo informed its partners and creditors about the temporary suspension of payments on Eurobonds and assured them of the operational and financial stability of the company.
We continue to fulfill our obligations and functions provided for by Ukrainian legislation and the company’s Charter. In particular, with regard to current tasks – preparation for winter, restoration, arrangement of protection and strengthening of the stability of the energy system of Ukraine in a state of war, explained Ukrenergo.
Source: Racurs
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