Ukraine's Naftogaz, in default, offers new terms to bondholders

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 9 (Reuters) - Ukrainian state-owned natural gas company Naftogaz, which is in default, on Thursday offered new terms to bondholders and said it had held meaningful consultations on restructuring its liabilities. Last year holders of two of its three main international bonds refused to sign up to a debt payment deferral plan. "Naftogaz has already held several meaningful consultations on the restructuring of its liabilities," the firm said in a message on Telegram. Naftogaz is offering to defer paying the principal on a 2022 Eurobond until July 19, 2024. It also proposes paying back the principal on a 2026 Eurobond, with half due on Nov. 8, 2027 and half due on Nov. 8, 2028. "We are negotiating with the holders on terms and conditions that may be acceptable to both parties - for investors and our group of companies," Naftogaz Chief Executive Oleksiy Chernyshov said in the Telegram message. (Reporting by David Ljunggren;
Editing by Sandra Maler)

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