The Naftogaz debt holders have refused to postpone Eurobond payments for the second time.

  State oil and gas company Naftogaz has not received consent from creditors for a two-year bond payment postponement for the second time, Reuters writes. On August 17, in the presence of a quorum, less than 20% of the required minimum 75% of 2022 bondholders supported the postponement of payments. There was no quorum for bonds of other issues – with repayment in 2024 for €600M and with repayment in 2026 for $500M. The next meeting regarding this issue is scheduled for August 31. The owners of approximately 49% of the 2024 Eurobonds voted at the  meeting and about 74% of the votes were cast in favor of Naftogaz’s proposal. For the 2026 Eurobonds, about 54% of lenders voted, and only 49% supported the postponement.