Ukrenergo CEO on the company's technical default: “It will not affect the passage of winter”
Kyiv • UNN
“Ukrenergo temporarily suspends payments on green bonds due to a technical default. The company plans to resolve the issue by February 20, 2025, which will not affect energy supply in winter.
The announcement of Ukrenergo's technical default will not affect the steady passage of winter and ongoing programs. The default issue is expected to be resolved by February 20, 2025.
Oleksiy Brekht, acting chairman of the board of Ukrenergo, told UNN about this.
Today, we spoke with our Western partners, and some of them say that the declaration of a technical default is not a pleasant and painful thing, but it will not affect the current programs and selections that are already in place. I expect all partners to respond in the near future. Ukrenergo's current programs will definitely be enough to get us through this winter with confidence and start preparing for the next one. However, we plan to resolve the issue of restructuring and repayment of the debt on green bonds no later than February 20 next year
According to him, Ukrenergo will need several months to resolve the technical default and launch programs. He explains that there will be no negative impact on the end consumer.
Recall
NPC Ukrenergo has announced that starting November 9, it will temporarily suspend payments on its debt obligations under green sustainability bonds. The parliamentary finance committee explains the decision as a “technical default.
