Naftogaz Ukraine will pay off the debt to Gazprom using funds from the IMF
Edited by Rhod Mackenzie / 2014-05-05 09:59:41
Finance Oil and Gas Russia Ukraine Financial results Naftogaz Russia Oil and Gas Ukraine Oil and Gas Gas Gazprom
Naftogaz Ukraine will raise $2.16 billion in the National Bank and will pay off overdue debt to Gazprom as of the end of March. It is presupposed by the stand-by credit program provided for the Ukraine by IMF, Interfax reports referring to the materials of the program.
The National Bank of the Ukraine will provide to Naftogaz $1.67 billion for paying off of eurobonds issued under the state guarantee. They will be paid off in September. Besides from that, in October – December, the National Bank will sell $1 billion to Naftogaz for paying off of the debt to Gazprom.
