Naftogaz head positively evaluates loan market for company
Naftogaz Group is considering the possibility of issuing eurobonds, but does not comment on the possible timing and parameters of the placement, Executive Board Chairman Andriy Kobolev at a press conference in Kyiv on Tuesday.
"Now we believe that the loan market for Naftogaz looks very positive and attractive," he said, without specifying other details.
Speaking about the placement of the company's free cash, the volume of which amounted to UAH 48.6 billion by the end of last year and increased by another UAH 10 billion in the first quarter of 2021, Kobolev said that Naftogaz from time to time buys government domestic loan bonds of various terms of circulation and pegged to different currencies.
"By the end of last year, the government bonds were about UAH 11 billion. Now we do not own it, but we can buy it again," he said.
According to the annual report of the Naftogaz group, last year it acquired government bonds for UAH 34.83 billion and sold them for UAH 22.56 billion, at the end of the year their volume in the company's assets amounted to UAH 11.48 billion.
Currently, there are three issues of Naftogaz eurobonds in the market – EUR 600 million at 7.125% maturing in July 2024, $335 million at 7.375% maturing in July 2022 and $500 million at 7.625% maturing in November 2026 of the year. They were placed in July-November 2019.