On July 19, the Naftogaz of Ukraine national joint-stock company made mandatory payments on Eurobonds in accordance with the restructuring schedule.
This was stated in the message of Naftogaz, Ukrainian News Agency reports.
"Under the terms of the restructuring, Naftogaz has made mandatory payments, the next one is planned for November 2024. We faithfully fulfill our obligations. Leaving default demonstrates our reliability to international partners and enables Naftogaz to attract new capital investments for development company", said the head of Naftogaz, Oleksii Chernyshov.
As Ukrainian News Agency earlier reported, in July 2023, investors agreed to the restructuring of the Naftogaz of Ukraine national joint-stock company Eurobonds with maturities in July 2022 and November 2026.
In August 2022, holders of Eurobonds of Naftogaz of Ukraine agreed to defer payments for Eurobonds-2024, while holders of Eurobonds-2026 did not support the company's proposal to postpone payments.
Also in August, holders of Naftogaz Eurobonds due in July 2022 rejected the company's second proposal to postpone payments for two years.
On July 26, 2022, Naftogaz did not make the necessary payments for Eurobonds-2022, thus, the company's Eurobonds defaulted.
In November 2019, Naftogaz placed 7-year Eurobonds in the amount of USD 500 million with a rate of 7.625% per annum.
Also, in July 2019, Naftogaz placed five-year Eurobonds for EUR 600 million with a rate of 7.125% per annum and three-year Eurobonds for USD 335 million with a rate of 7.375% per annum.
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