Naftogaz completes restructuring of EUR 1.2 billion in Eurobonds

The Naftogaz Group has completed the restructuring of two series of Eurobonds with a total value of approximately EUR 1.2 billion.

The company has said this in a statement, the Ukrainian News agency reports.

The decision was supported by more than 90% of the bondholders in each series.

The restructuring involved outstanding euro- and dollar-denominated bonds issued by Naftogaz through Kondor Finance plc.

The agreement was reached in two stages: first, with a specially formed group of international bondholders (ad hoc group), and subsequently, as part of a consent solicitation process that included all bondholders without exception. As a result, the maturity date for the euro-denominated bonds has been extended to 2032, and for the dollar-denominated bonds—to 2033.

As the Ukrainian News agency earlier reported, the previous restructuring of these obligations was agreed upon in late July 2023.