“Naftogaz” will offer a new agreement to postpone payments.
for Eurobonds “Naftogaz” has already announced today that it will immediately offer a new agreement to obtain the consent of Eurobond holders to postpone payments.
The message on the company's website reads: “The national company will immediately offer Eurobond holders an agreement to postpone payments in accordance with the conditions specified by the government in order of the CMU No. 625-r dated 21.07.2022”.
It is noted that this process should be part of the joint actions of the government and other state-owned companies to offer similar conditions postponement of payments on Eurobonds.
However, previously creditors did not agree to the debt restructuring requested by Naftogaz, as they believe that the company is profitable. This, in particular, is evidenced by the data in the company's reporting.
Read also: Naftogaz's default is a few hours away: the company says it wants and can pay, but does not have government permission
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Let us remind you that a day earlier Naftogaz announced a default on Eurobonds due to the refusal of the Ukrainian government to agree to payments. The company argued that since non-fulfillment of obligations under Eurobonds practically deprived Naftogaz of access to the international capital market, the CMU, with its ban on their payment, actually assumed full responsibility for raising the funds needed to import natural gas for the 2022/2023 heating season.
Also earlier NAC did not say anything about the fact that the restructuring proposal was the idea of the Government. The company claimed that customers did not pay the bills, and asked the creditors to freeze the debt of UAH 1.5 billion.
