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Naftogaz successfully places EUR 600 million and USD 335 million Eurobonds

July 15, 2019 | Cbonds

Naftogaz of Ukraine has successfully placed Eurobonds in the amount of EUR 600 million and USD 335 million. 5-year EUR-denominated bonds at 7.125% and 3-year USD-denominated bonds at 7.375%.

The company has thus placed the Eurobonds for the maximum amount approved by its shareholder, the Cabinet of Ministers of Ukraine, and at a rate below the approved ceiling. The Eurobond issues do not carry a state guarantee.

The issue was approximately 2.5 times oversubscribed. Over 120 investors from the UK, other EU Member States, Asia, South America have purchased the bonds.

“The level of interest generated by the issue shows investor confidence in Ukraine and is a recognition of our efforts to make Naftogaz a transparent and reliable company,” said Andriy Kobolyev, CEO of Naftogaz.

Having raised the funds on attractive terms, Naftogaz is now better placed to prepare for the next winter season by accumulating gas volumes in the underground gas storages.

The company expects to see the funds on 19 July, following the completion of legal formalities.

Citi and Deutsche Bank acted as lead managers on the issue. Freshfields Bruckhaus Deringer, AEQUO, White & Case, Avellum, Linklaters and Clifford Chance provided legal advice.

Issue: Naftogaz, 7.125% 19jul2024, EUR

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingUkraine07/19/2024600,000,000 EUR-/-/B

Company: Naftogaz

Full company namePJSC "Naftogaz of Ukraine"
Country of riskUkraine
Country of registrationUkraine
IndustryOil and gas


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