Naftogaz expects to see $500 mln from placement of eurobonds by end of this week
NJSC Naftogaz Ukrainy has said that the company expects to see $500 million raised from the placement of eurobonds at 7.625% per annum on November 8, following the completion of legal formalities.
According to a press release of Naftogaz, the orderbook peaked at almost 2.9 times oversubscription. Worldwide investors from the United States, the United Kingdom, Switzerland, Germany, and other EU Member States; Asia or Middle East have participated on the offering.
The senior unsecured bond is issued under 144A/Reg S format and carries an interest of 7.625% payable semiannually – in Mau and November.
"We are inspired with investors’ high interest to Naftogaz' securities. Our efforts to reform the company and the Ukrainian gas market help us reduce our financing costs and compete more effectively," CEO of Naftogaz Andriy Koboliev said.