OREANDA-NEWS. September 25, 2009. Naftogaz of Ukraine, in a statement published on its website yesterday, said it was offering holders of its USD 500 mln Eurobond due to mature later this month an exchange for new US dollar-denominated bonds backed by a sovereign guarantee that mature in September 2014 and carry a coupon of 9.5%. Also yesterday, the Luxembourg Stock Exchange said that trading in Naftogaz Eurobonds resumed yesterday, after a half-day disruption. The exchange reported that it had suspended trading because of the "non-respect for stock exchange regulations", and did not specify the reason for the resumption in trading.  The Cabinet of Ministers, in a July 22 order, requested Naftogaz of Ukraine and the Finance Ministry restructure the debts of Naftogaz and lower its costs for servicing loans via refinancing. Naftogaz is seeking to restructure USD 1.1 bln in foreign debt in addition to its USD 500 mln Eurobonds.

Concorde Capital: The parameters offered by Naftogaz are in line with our expectations. We predict difficult talks with bondholders before agreement is reached on the final terms of restructuring.

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.