Cabinet permits Naftogaz to capitalize additional UAH 31.5 bln worth bonds

The Ukrainian government has decided to increase the charter capital of national joint-stock company Naftogaz Ukrainy by UAH 31.5 billion – the total sum stipulated in the 2015 national budget.

According to cabinet resolution No. 13 of January 23, 2015 published on Monday Naftogaz traditionally will be capitalized thanks to the issue of government domestic loan bonds which will be used to pay for the additionally issued shares.

According to the document, the bonds are issued for the period up to 10 years at 14.5% per annum.

Last time the government made the decision to additionally capitalize Naftogaz Ukrainy worth UAH 63.27 billion using the scheme in August 2014. Ten-year government bonds at 14.3% per annum were issued.