OREANDA-NEWS. On 27 August 2009 Cordblow, a Belize-registered holding company for Russian interests, announced that it is forming a bondholders’ group to block any offer by Naftogaz to restructure its USD 500 mln Eurobonds that are due to mature next month. The Ukrainian government said last month that it would seek to restructure the issue before it matures. Cordblow’s legal advisor said that bondholders representing about 20% of the issue have expressed their support for the initiative to block restructuring.

Concorde Capital: We see a high probability that the proposed restructuring will be blocked by Naftogaz bondholders.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.