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Kondor Finance Plc (Issuer) & National Joint Stock Co. “Naftogaz of Ukraine” - Consent - News

Ukrainian Cabinet approves term sheet suggested by Naftogaz to restructure 2022/2026 Eurobonds

26 JUNE 2023

Full announcement including disclaimers and offer restrictions available via Naftogaz

"The Cabinet of Ministers of Ukraine (CMU) has agreed on the term sheet to restructure Naftogaz of Ukraine Eurobonds maturing in July 2022 and November 2026. The restructuring had earlier been agreed with investors. The relevant resolution of the CMU was published on the Cabinet's website on June 26, 2023.

I am very thankful to the Cabinet, as a shareholder of the Company, for approving the conditions of the term sheet agreed with holders of Naftogaz's Eurobonds. This has brought the Company one step closer to fulfilling its obligations to investors," commented Oleksiy Chernyshov, Chairman of the Naftogaz Board.

The transaction is expected to be completed by the end of Summer 2023.


Background: Detailed proposals with regard to the term sheet had also been earlier approved by the Management Board and Supervisory Board of Naftogaz of Ukraine.


The terms and conditions of the Eurobond term sheet for bonds maturing in July 2022 and November 2026 are available at the Company's website."


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ANNOUNCEMENT IN RELATION TO THE OUTSTANDING

U.S.$335,000,000 7.375 PER CENT. LOAN PARTICIPATION NOTES DUE 2022 (ISIN: XS2027393938) (the “2022 Notes”); and

U.S.$500,000,000 7.625 PER CENT. LOAN PARTICIPATION NOTES DUE 2026 (REG S ISIN: XS2077601610; RULE 144a ISIN: US50050MAB19) (the “2026 Notes”, and holders of the 2022 Notes and the 2026 Notes, the “Noteholders”)


31 MAY 2023


Full announcement including disclaimers and offer restrictions available via Naftogaz

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