Naftogaz completes its restructuring of defaulted bonds.
The company officially offered bondholders a possibility to restructure their bonds maturing in July 2022 and November 2026, on which the company defaulted last year. The issuer of the securities, Kondor Finance, published a consent request on the Euronext Dublin exchange on July 13. This is the final procedure needed to complete the restructuring. To the owners of $335M in Eurobonds-2022 the company offered to pay 5% of the principal amount of the debt, overdue interest, last year’s overdue payment,