Naftogaz waiting for government's agreement with IMF to issue eurobonds
National Joint-Stock Company Naftogaz Ukrainy retais plans to enter the foreign loan market with eurobonds in 2018, hoping that the Ukrainian government would soon achieve an agreement with the International Monetary Fund (IMF) on resumption of financing, Naftogaz Board Chairman Andriy Kobolev has said.
"We hope [to issue eurobonds] this year, if the Finance Ministry has success with the IMF," he said at the discussion organized by the Novoye Vremia newspaper from the Ukraine 2020 series in Kyiv on October 18.
Kobolev said that by the end of the year Naftogaz plans to repay a large loan to one large bank. According to him, it can be refinanced, but the issue of eurobonds may be cheaper, and it is not associated with collateral.
"And it [the issue of eurobonds] fits into Naftogaz's prospects to become a public company in five years," the head of the company said, pointing out the company's readiness to become more and more transparent.
In the middle of September, Kobolev announced plans for Naftogaz to issue eurobonds worth $500 million - $1 billion in October 2018. According to him, it is planned to raise funds for the development of the company.