Ukrainian Government to increase authorized capital of Naftogaz by $2 billion

The Ukrainian Government has decided to increase the authorized capital of Naftogaz 31.5 billion hryvnias ($2 billion) - the whole amount, specified in the budget of the country for 2015.

According to the Cabinet of Ministers’ decree dated January 23, published on Monday, Naftogaz’s capital is traditionally increased through the issuance of domestic government bonds, with which shares of the additional issue are paid. The bonds are issued for up to 10 years with a rate of 14.5% per annum.