Naftogaz offered the owners of Eurobonds an updated working scenario of the restructuring

On March 10, 2023, Naftogaz of Ukraine NJSC presented an updated working scenario for the restructuring of the company's debt obligations under Eurobonds maturing in 2022 and 2026. The document was presented by the head of Naftogaz Oleksiy Chernyshov during an online meeting with creditors.

The event was also attended by the Chairman of the Naftogaz Supervisory Board, Anthony Marino, and Yuriy Butsa, the Government Commissioner for Public Debt Management.

According to Chernyshov, the restoration of investor confidence is a priority for Naftogaz. The company continues to look for a joint solution regarding debt restructuring for Eurobonds maturing in 2022 and 2026.

"The working scenario that we are presenting today is based on our previous discussions with creditors. At the same time, it considering our financial capabilities limited by a full-scale war, as well as the framework for servicing Ukraine's public debts, established by the Ukrainian Government, given that half of Ukraine's state budget is financed by our foreign partners," said Oleksiy Chernyshov.

Naftogaz prepared this document after discussing with creditors the preliminary working scenario, published on February 2, 2023. Naftogaz's next step will be to involve the owners of Eurobonds to discuss the updated plan.