"Neftegaz" finished the painful restructuring

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The national joint stock company "Ukrnaina's Neftegaz" finished on November 5 complex restructuring of the external debt by a formal exchange of eurobonds and obligations for bilateral loans for the uniform investment tool.

I reported a press about it - company service.

The new bonds issued under guarantees of the Cabinet with repayment in 2014, coupon rate on which makes 9,5%, on November 5 were given to clearing systems.

NAK notes that this restructuring is an important stage of further development of the company.

As it was reported, on October 19 owners more than 93% of eurobonds of "Neftegaz" approved conditions of their restructuring.

Payday on new bonds was planned for October 29.

"Neftegaz" suggested holders of the eurobonds to restructure for the sum of 500 million dollars them for 5 years till October, 2014.

The company asked owners of eurobonds to agree to exchange 100% of their securities for new bonds, also with denomination in dollars, with the coupon in 9,5% and advantage of a reinforcement a sovereign guarantee of Ukraine.


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