The company is said to be profitable.
Creditors of the Ukrainian state energy company Naftogaz were called reject the company's request for a two-year freeze on debt payments. Naftogaz made the offer on Monday, saying Russia's invasion of the country has left it cash-strapped as customers can't pay their bills.
As Reuters writes, during a call organized by London-based law firm Dechert, appointed by creditors, advisers said they did not think the company would face an immediate cash crisis and that it was viewed as a profitable enterprise.
As a result, they will demand full repayment of one of the company's bonds due next week, along with additional “coupon” interest on another bond that runs until 2024.
Creditors' advisers also said bondholders have not yet formed a steering committee, the main group of creditors that oversees the debt review.
They added that they would be prepared to revisit the issue if the country's situation did not improve. until the maturity of the next large bonds in 2024.
Read also: The heating season may be in jeopardy due to the inability of Naftogaz to serve 12 million consumers
NJSC Naftogaz has asked its international creditors to delay payments on its $335 million debt due on July 19 until 2024
The company's request on Monday caught many creditors by surprise. It also raised fears that the Ukrainian government might try to do something similar before paying off about $1 billion in government bonds due in September.
In February 2022, Naftogaz said that< span>ex-head of “Naftogaz” Andriy Kobolev took most of the award for the victory over Russia's Gazprom in Stockholm arbitration in the amount of UAH 599.6 million, despite , who did not even manage this direction.
In addition to writing for ZN.UA Alla Eremenko in the material < strong>“The benefit of Naftogaz is not the same as the benefit of Ukraine”, in May 2022 the company's annual report was published, from which it became known about other very attractive remuneration conditions of the company's managers.
