Ukraine Will Issue $1 Billion of Eurobonds

National joint-stock company Naftogaz Ukrainy plans to issue up to $1 billion worth of eurobonds in October, Naftogaz Board Chairman Andriy Kobolev has said. “Yes, we will issue. I think that it will be in October,” he told reporters on the sidelines of the 15th "YES Conference" organized by Victor Pinchuk Foundation in Kiev on Sept. 15, asked if the company retains plans to issue eurobonds, Reuters reported.

Kobolev said that the funds will be raised to develop the company. Reportedly, at the end of 2017, Naftogaz Chief Commercial Officer Yuriy Vitrenko said Naftogaz plans in 2018 to enter the external debt market with an offer of eurobonds worth $1 billion. Late July 2018, Naftogaz hired Freshfields Bruckhaus Deringer law firm to assist in placing eurobonds by the Ukrainian company. The services are to be provided before July 1, 2020.