Ukraine’s Naftogaz to Put Forward New Debt-Relief Proposal
- Ukraine firm doesn’t expect creditors to approve current plan
- Says Ukraine cabinet blocks it from making debt payments
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Ukraine’s state-owned oil and gas company plans to prepare a new debt-relief plan after failing to get bondholders’ approval for its last-minute proposal to freeze payments on about $1.4 billion of bonds.
NJSC Naftogaz Ukrainy didn’t give details on the timing of the plan in a regulatory filing published Monday. It didn’t provide any information on what solutions the plan may include either.