Ukrainian state company Naftogaz informed the holders of its Eurobonds about the technical default, referring to the government’s refusal to allow it to make Eurobond payments.
Bloomberg reports that the state-owned company Naftogaz of Ukraine refused to redeem three-year Eurobonds in the amount of 335 million rubles, including interest, as well as the payment of interest obligations on Eurobonds in 2024.
Company CEO Yuriy Vitrenko said that payments on current obligations of Naftogaz became impossible due to the sudden demand of the Ukrainian government to accumulate 19 billion cubic meters of gas to organize the winter heating season. This forced the management of the gas company to enter into negotiations on a two-year deferral of bond payments, which have not been successful so far.
It is reported that now the holders of Naftogaz securities have the right to demand their funds through the courts in Europe and try to sue the company’s property.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel