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Ukraine’s Naftogaz fails to repay $1.7 billion Eurobond — source

October 01, 2014, 15:04 UTC+3 MOSCOW
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MOSCOW/KIEV, October 1. /TASS/. Ukraine’s oil and gas company Naftogaz has failed to repay its $1.67 billion Eurobond issued in 2009, an official at an investment fund which holds the bonds told PRIME Wednesday on condition of anonymity.

“There was no money as of yesterday night,” he said.

Naftogaz of Ukraine has already started procedures to repay the Eurobonds, Prime Minister Arseniy Yatsenyuk said. “Today is the day when the Eurobond issued by Naftogaz of Ukraine amounting to $1.67 million under state guarantees is due. The cabinet of ministers and Naftogaz of Ukraine have started procedures to repay the liability. The full sum will be repaid.”

In August, the Ukrainian government raised Naftogaz’s capital by $5.27 billion by selling 10-year bonds at home amounting to 63.27 billion hryvnias with an interest rate standing at 9.5% annually.

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