The government refused to agree on payments.
“Naftogaz of Ukraine” notified about default on Eurobonds due to the refusal of the government of Ukraine to agree to payments.
“Today, July 26, 2022, the deadline for payments by NK Naftogaz to owners of Eurobonds has passed,” the company's press release published on Tuesday evening states. p>
It is reported 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 attracting the funds necessary for the import of natural gas for the 2022/2023 heating season.
We remind you that the creditors did not agree to the restructuring the debt requested by Naftogaz, as they believe that the company is profitable. This, in particular, is evidenced by the company's reporting.
Previously, the NAK did not say anything about the fact that the restructuring proposal was the Government's idea. The company claimed that customers do not pay their bills and asked creditors to freeze the debt of UAH 1.5 billion. , so that the NAK will still return to negotiations regarding the postponement of the debt payment. Given that the creditors have already refused this offer, as they do not consider the financial condition of the company unsatisfactory, it is possible that this story will end in a lawsuit with the creditors
