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Naftogaz allowed to attract external credit

Нафтогазу разрешили привлечь внешний кредитThe Cabinet of Ministers of Ukraine agreed on the attraction of Naftogaz external loan of up to $ 1 billion.

The Cabinet of Ministers of Ukraine agreed on the attraction of Naftogaz of Ukraine external loan of up to $ 1 billion through the issuance and placement of bonds. On Wednesday, October 24.

It is noted that the Cabinet agreed the conditions to attract Naftogaz of long-term external credit from the company Condor Finance PLC, which will be funded through the issuance and placement of the company bonds loan participation. In particular, the principal amount of the loan will amount to $ 1 billion, inclusive.

Co-organizers of the issue and placement of bonds are Citigroup Global Markets Limited and Deutsche Bank AG. External loan was provided for General corporate purposes, including to repay existing financial debt and financing capital expenditures. The credit agreement is for five years, the total amount of commissions and costs (including legal advisors) up to 4.1 million dollars.

As reported, Naftogaz is asking the Cabinet to develop a plan of action in case of stopping of gas transit.

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