Clock ticks for Naftogaz as Eurobond countdown begins

03 Sep 2009

Naftogaz of Ukraine has appointed Credit Suisse’s liability management team to act as dealer manager in the planned restructuring of its $500m 8.125% Eurobond which matures on September 30 and the bilateral loan obligations of the company.

But its initial proposal to extend the maturity of the Eurobond received a lukewarm response from investors.

"In the light of tough market conditions and structural difficulties in the domestic and international gas market, the extension of the maturity of the Eurobond is one of a number of ...

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