Ukrainian state energy firm Naftogaz will issue bonds worth Hr 20.4 billion ($2.5 billion) to refinance debt owed to state-run Oshchadbank, according to a government resolution published on Thursday.
Bonds will come in a number of series with different maturities — from less than a year to five years — and coupon rates of 11.25% to 13.75%.
It was unclear how and where the bonds, due to be registered by mid-January, would be sold.
Naftogaz buys gas from Russia’s Gazprom to resell to local customers and also tranships Russian gas to Europe.
