Statement: Comments Sold on debt restructuring of Naftogaz Ukraine does not constitute official
negotiating team from the Ukraine on the question of restructuring the external debt of national joint-stock company (NAK) Naftogaz Ukraine emphasizes the informal and subjective comments of Minister of Fuel and Energy Minister Yuri Prodan on this topic.
All the comments Minister Yuri Prodan not reflect the official position of the delegation, based in London - quoted a statement by the leaders of the delegation i.o.ministra Finance Igor Uman and the head of board NAK Oleg Dubyna the press service of Naftohaz.
As reported, Yu Sold earlier in the day said that Naftogaz Ukraine will carry out the payment coupon on eurobonds on $ 500 million, representing about $ 20.3 million, but no principal.
Naftogaz Ukraine On September 24 proposed Eurobond holders to exchange them for new securities with a government guarantee and maturing in 2014. State Holding proposes to increase the coupon rate from the current 8.125% to 9.5% per annum. Thus, as suggested by the NAC, the holders who have agreed to restructure by October 8, will be able to exchange 100% of the debt, and the second phase of restructuring (15 October) the exchange will be carried out with a coefficient of 0,95.
Meeting
Eurobond holders will be held October 19, 2009 in London.
was also reported earlier that the NAC has already started negotiations to restructure foreign debt totaling $ 1.65 billion According to the Interfax-Ukraine , in addition to the Eurobond it comes to debt of Naftogaz Ukraine Depha Bank in the amount of $ 220 million, Credit Suisse International (CSI) - to $ 550 million, and Deutsche Bank - to $ 395.2 million with a maturity of accounts for 2009-2012. Given the total amount of interest payments on them is about $ 1.78 billion, including this year - about $ 650 million in the next - about $ 570 million
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