Naftogaz to receive first four letters of credit for $500 mln by end of week
National joint-stock company Naftogaz Ukrainy by the end of this week will receive first four letters of credits as part of the $500 million loan, Board Chairman of Ukrainian Citibank Steven Fisher.
"The loan is active and the first four letters of credit will be issued this Friday," he told reporters in Kyiv on Wednesday.
He did not disclose the sum of the letters of credit.
As reported, on December 30, 2016 Naftogaz Ukrainy signed with Citi and Deutsche Bank a loan agreement for a euro-denominated credit facility for gas purchase in the equivalent of $500 million secured by the World Bank. The facility is secured by the World Bank's guarantee, which, in turn, is secured by the sovereign guarantee issued as part of the formation of the energy fund according to resolution No. 876 of the Cabinet of Ministers of Ukraine dated November 30, 2016 on the provision of the International Bank for Reconstruction and Development with the sovereign guarantee under obligations of Naftogaz Ukrainy.
Advertising
Advertising
MORE ABOUT
Enemy attacks gas infrastructure facilities in Ukraine, consumers and clients won't be affected – Naftogaz
14:35, 27.04.2024
Naftogaz pays UAH 18.2 bln in taxes in three months
11:35, 16.04.2024
Naftogaz ready to buy all the gas offered by Ukrainian producers in 2024
19:05, 12.04.2024
During Russian attack on Naftogaz facilities on Friday, no casualties or serious damage - Chernyshov
11:57, 29.03.2024
Tariffs for gas storage in Ukrainian UGS facilities will remain unchanged until April 1, 2025 – Naftogaz
16:49, 18.03.2024
LATEST
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
DIM company accredits houses under construction in eOselia program
19:22, 02.05.2024
Shareholders of Interpipe Nyzhniodniprovsky Pipe Rolling Plant updates composition of supervisory board, re-elected four members for new term, incl its head
19:05, 02.05.2024
Philip Morris to invest $11 mln in launch, commercialization of new version of tobacco heating device in Ukraine
18:24, 02.05.2024
Number of transfers via NovaPay up by 18%, transactions by 24% in Q1 2024