On 10 March 2023, NJSC Naftogaz of Ukraine held an online meeting with holders of 2022 and 2026 Eurobonds where a working scenario was proposed to resolve the situation with the securities.
The company, in cooperation with its financial advisor Lazard Frères SAS, is currently processing feedback from bondholders to prepare a formal restructuring proposal.
Preparations have been shaped by two important factors:
- stance of the Eurobond holders to the extent the situation allows;
- restrictions imposed by the Ukrainian government in connection with the full-scale war by Russia and associated destruction of the Group's infrastructure.
The strategic goal of Naftogaz is to restore the trust of the Company's partners. We are currently waiting for feedback from Eurobond holders. I am confident we will soon find a solution to suit both our country and the bondholders," commented Oleksiy Chernyshov, Chairman of the Board at Naftogaz of Ukraine.
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