The Naftogaz of Ukraine national joint-stock company has refused to issue eurobonds. Ukrainian News agency learnt this from a spokesperson for a foreign bank. According to the source, the yield was claimed to be 10.9% per annum. The bonds should have been issued for USD 500 million. According to the report, the Russia's gas monopoly Gazprom placed five-year eurobonds nominated in the euro at 2.95% per annum. As Ukrainian News Agency earlier reported, the Cabinet of Ministers of Ukraine has endorsed an issue of eurobonds for USD 1 billion by Naftogaz. 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. According to the document, the funds will be raised for general corporate goals, including redemption of the current financial debt and financing capital investments. The interest rate cannot be higher than the level provided by governmental resolution No.363 of August 3, 2004. The loan will be taken for five years. The total volume of commissions, expenses and spending (including for legal advisers) shall not exceed USD 4.1 million. Naftogaz said it would 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.