Naftogaz asks holders of defaulted Eurobonds to resume restructuring talks

MOSCOW. Nov 21 (Interfax) - Naftogaz Ukraine has approached the holders of Eurobonds maturing in 2022 and 2026 with a proposal to intensify cooperation to find a mutually acceptable solution to restructuring the bonds, Ukrainian media reported, citing the state oil and gas company's press service.

The company said this refers to a statement it posted on the Irish Stock Exchange on November 18. It said that Naftogaz has appointed Lazard Freres SAS as exclusive financial advisor to coordinate the negotiation process together with AEQUO and Freshfields Bruckhaus Deringer, the company's legal advisors.

The company said that, following the appointment of a new CEO, its priorities are to ensure energy stability and independence, increase confidence in Naftogaz on the part of the government, international partners, creditors and investors, and get through the current heating season smoothly.

"One of our key priorities is to restore trust in Naftogaz, particularly among our investors. The proposal to resume constructive dialog is the first step toward this goal," Naftogaz CEO Alexei Chernyshov was quoted as saying in the statement.