Economy 2021-03-15T06:10:01+02:00
Ukrainian news
Cabinet Seals Issue Of Eurobonds By Naftogaz For USD 1 Billion

Cabinet Seals Issue Of Eurobonds By Naftogaz For USD 1 Billion

Cabinet of Ministers, eurobonds, Naftogaz

The Cabinet of Ministers of Ukraine has endorsed an issue of eurobonds for USD 1 billion by the Naftogaz of Ukraine national joint stock company.

The Cabinet of Ministers endorsed this decision at its sitting on Wednesday, Ukrainian News Agency reports.

In particular, Naftogaz of Ukraine is allowed to raise a loan for up to USD 1 billion from Condor Finance PLC.

The loan will be financed from placement of loan participation notes by Condor Finance PLC. Citigroup Global Markets Limited (the United Kingdom) and the London subsidiary of Deutsche Bank AG will be co-organizers of the issue.

As Ukrainian News Agency earlier reported, Naftogaz of Ukraine has said it will hold a road-show of the issue of its Eurobonds for USD 0.5-1 billion until November 4, 2018.

According to Yurii Vitrenko, commercial director of Naftogaz of Ukraine, the company will have to redeem close to UAH 15 billion in 2019.

In mid September 2018, Kobolev said to the press on the sidelines of the Yalta European Strategy (YES) organized by the Viktor Pinchuk Foundation that Naftogaz of Ukraine plans to issue eurobonds for USD 0.5-1 billion in October 2018.

He noted that the funds from the offer will be channeled into the development of the company.

In 2017, the Naftogaz of Ukraine national joint-stock company group boosted its net profit 2.2 times or by UAH 21.6 billion to UAH 39.449 billion year over year.

The revenue of the company from sales in 2017 rose by 18% or UAH 34.714 billion to UAH 227.478 billion.

The overall amount of borrowings of the group in 2017 decreased by 16.3% or UAH 11.5 billion to UAH 59.3 billion as at late 2017.

In Ukraine Citigroup controls the Kyiv-based Citibank, ranking among Ukrainian mid-sized commercial banks.

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