National joint-stock company Naftogaz Ukrainy plans to issue $500 milllion-$1 billion eurobonds in October 2018, 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 the Victor Pinchuk Foundation in Kyiv on Saturday, asked if the company retains plans to issue eurobonds in the current situation.

Kobolev said that the funds will be raised to develop the company.

As reported, at the end of 2017, Naftogaz Chief Commercial Officer Yuriy Vitrenko said that 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 (the U.K.) to assist in placing eurobonds by the Ukrainian company. The services are to be provided before July 1, 2020.