Naftogas to pay $0.5 bln to foreign creditors until 2018

​Naftogas Ukrainy is to pay $0.5 bln to its foreign creditors until 2018 and in 2015-2016 to settle its debts before the Ukrainian banks for 23 bln grivna and $0.4 mln, the company reports.

“In 2014 Naftogas settled euro bonds for $1.6 bln and $2.3 bln for gas shipped in 2013. The company had to pay $1.5 bln for gas transit in 2010-2013. The remaining debts are: foreign loans for $1.7 bln, $0.5 bln of which is guaranteed by the Government (with the signed schedule of settlement until 2018) and loans issued by other Ukrainian banks for the total amount of 23 bln grivna and $0.4 mln (with settlement in 2015-2016)”, is reported.

According to Naftogas, taking into account the turnover and value of assets of Naftogas, the company’s credit indebtedness is quite small. “The problem is in a very restricted opportunity to refinance these loans, not mentioning a high value of financing in the market”, Naftogas reports.