Monday, June 23
Naftogaz is offering a bond issue of $335 million in an exercise to retire bonds coming due in 2022 and 2024
Friday, October 16, 2020
Naftogaz is offering a bond issue of $335 million in an exercise to retire bonds coming due in 2022 and 2024. The state energy company’s priority is to buy back $335 million worth of bonds maturing in July 2022. Once that demand is covered, Naftogaz plans to use the unused portion of money raised to buy back some of the €600 million worth of bonds maturing July 2024. The goal is to extend the maturity of Naftogaz debt. The 2022 Eurobonds have a yield of 7.375% and 2024 Eurobonds have a yield of 7.125%. The deadline for bondholders to apply is Oct. 27. Fitch Ratings has rated the new notes ‘B’. Citibank is the sole arranger.
