The restructuring concerned outstanding Euro- and US Dollar-denominated bonds issued by Naftogaz through Kondor Finance plc.
The agreements were reached in two stages: first, with a specially formed ad hoc group of international bondholders, and subsequently through a consent solicitation process that covered all bondholders without exception. As a result, the maturity date for the Euro bonds has been extended to 2032, and for the US Dollar bonds to 2033.
"The restructuring of the Eurobonds provides us with greater opportunities to direct additional resources toward restoring infrastructure following Russian attacks—of which there have been around 250 this year alone—and preparing for the heating season," noted Sergiy Koretskyy, CEO of Naftogaz Group.
The restructuring is one of the key steps in ensuring the financial stability of Naftogaz Group amid the full-scale war and systemic attacks on Ukraine's energy infrastructure. The company continues to fulfill its obligations to the state and consumers and is preparing for the upcoming heating season.
