Ukraine's government approves Eurobonds issuance by Naftogaz worth $1 million

Naftogaz may now take external loan amounting no more than $1 billion from Condor Finance PLC
19:27, 24 October 2018

Ukraine’s Government approved the issuance of the Eurobonds by Naftogaz-Ukraine worth up to $1 billion. The relevant decision was made at the Government’s session on Wednesday, as Ukrainian News reported.

Naftogaz may now take external loan amounting no more than $1 billion from Condor Finance PLC.

Related: Ukraine's Naftogaz collects $18 million with Gazprom, - Naftogaz commercial director

The news agency reported that this loan would be funded by issuing and deployment of the loan participating bonds by Condor Finance PLC with  Citigroup Global Markets Limited (UK) and London’s subsidiary Deutsche Bank AG as co-organizers.

Citigroup Global Markets Limited is an international broker-dealer of Citigroup company, which provides investment, banking and consulting services for corporate, institutional and state accounts.

Related: Naftogaz to transfer 90 percent of its income to public budget

Earlier, it was reported that Naftogaz Ukraine would send 90% of its income to Ukraine’s state budget, as the Prime Minister Volodymyr Groysman said at the session of the Cabinet of Ministers.

Naftogaz supervisory board decided to pay bonuses amounting $46,3 billion to the workers who worked hard in Stockholm Arbitration in dispute with Gazprom concerning the transit contract.

Volodymyr Groysman commented on this, stating that it was “too much.”

Related: Agreement with IMF on gas prices reached, - Naftogaz CEO

Later, Ukraine’s Prosecutor General Office opened a criminal proceeding on payment of bonuses to Naftogaz board.  

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