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Ukraine’s Naftogaz makes Eurobond payment to avoid default

October 09, 2014, 15:23 UTC+3 MOSCOW
1 pages in this article

MOSCOW, October 9. /TASS/. An investment fund holding Eurobonds issued by the Ukrainian national energy company Naftogaz has received a Eurobond payment, a source in the fund said on Thursday.

“The money has been transferred,” the source said, without specifying when the payment had been received.

Ukraine’s Naftogaz risked running into technical default, if it failed to make a coupon or principal payment until October 10, according to Naftogaz’s Eurobond issue prospectus.

Naftogaz missed the deadline on September 30 for repaying five-year Eurobonds worth $1.595 billion issued in 2009 against state guarantees. Naftogaz announced on October 1 it had repaid the Eurobonds worth $1.595 billion and made a $75.76 million interest payment.

Naftogaz owes Russia’s Gazprom $5.3 billion for natural gas supplied to Ukraine.

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