Naftogaz announced the receipt of permission to freeze payments on Eurobonds

MOSCOW, August 31 – PRIME. Naftogaz Ukrainy announced that it received permission from Eurobond holders to freeze payments until 2026.

“National joint-stock company Naftogaz of Ukraine has successfully negotiated with holders of Eurobonds maturing in July 2024, 77% of investors voted “for” and agreed to the proposal to defer payments for 2 years. Thus, the company can pay off the debt body in the amount of 600 million euros not in 2024, but in 2026, and interest on it will begin to be paid in 2024,” the Naftogaz of Ukraine website says.

In July, Naftogaz Ukrainy approached the holders of its Eurobonds with a proposal to defer interest payments for two years, but did not receive a deferment. The company then stated that the government of Ukraine forbade it to pay on Eurobonds, although the money for this was in the accounts, and thus the authorities deliberately defaulted on these bonds.