Eurobonds will allow Naftogaz to pay dividends to the state – Kobolyev

Successful placement of Eurobonds for a total amount of more than $1 billion will allow NJSC Naftogaz of Ukraine to send the full amount of dividends to the state budget, as well as to acquire the necessary volumes of natural gas for injection into underground storage facilities.

“We expect to receive funds to the company’s accounts either on Friday (July 19 – ed.), or on Monday (July 22 – ed.).  This will allow us to perform all the tasks that the government has set for Naftogaz”, said Head of Naftogaz,  Andriy Kobolyev.

He also said that after the placement, several banks applied to Naftogaz with a proposal to extend loans at similar interest rates.

On July 12, NJSC Naftogaz of Ukraine placed five-year bonds in euros with a yield of 7.125% and three-year bonds in US dollars with a yield of 7.375%.

Eurobonds of the company were acquired by more than 120 investors from the UK, other countries in Europe, Asia and South America.

Source: epravda.com.ua

Tags: The Cabinet of Ministers, gas, Naftogaz, contracts, Kobolyev, legislation, energy market, UGSF, foreign affairs, debt

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