Naftogaz restructured eurobonds worth 1.2 billion euros
Kyiv • UNN
The Naftogaz Group restructured two issues of eurobonds worth 1.2 billion euros. The decision was supported by over 90% of holders, with the maturity extended to 2032 and 2033.
The Naftogaz Group has restructured two issues of eurobonds totaling approximately 1.2 billion euros. The decision was supported by over 90% of bondholders of each series, reports UNN citing the company's statement.
Details
The restructuring concerned outstanding euro and dollar bonds issued by Naftogaz through Kondor Finance plc.
As reported by Naftogaz, the agreements were reached in two stages: first with a specially created ad hoc group of international bondholders, and subsequently within the consent solicitation procedure covering all bondholders without exception. As a result, the maturity of euro bonds was extended to 2032, and dollar bonds to 2033.
The restructuring of eurobonds gives us more opportunities to direct additional resources to restore infrastructure after Russian attacks, of which there have been about 250 this year alone, and to prepare for the heating season
As noted by the company, the restructuring is one of the key steps in ensuring the financial stability of the Naftogaz Group amid the full-scale war and systematic attacks on Ukraine's energy infrastructure. The company continues to fulfill its obligations to the state and consumers and is preparing for the upcoming heating season.