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Ukraine’s Naftogaz to Offer New Debt Plan After Missed Payment

  • Government moratorium forced energy company to miss deadline
  • Bondholders rejected an earlier plan to restructure bonds
Updated on

Ukraine’s state-run energy company NJSC Naftogaz Ukrainy said it is still trying to negotiate a deal with holders of around $1.4 billion of its bonds after the government forced it to miss a deadline on Tuesday.

The company will “urgently” present a new plan for bondholders, it said in an emailed statement. Naftogaz on Tuesday said it’s on track to default as a grace period to redeem $335 million of bonds due last week expired.