The Naftohaz Ukrainy national joint-stock company has failed to timely pay USD 50 million in the frames of the loan worth USD 200 million granted by the Standard Bank, Britain, in November 2005, a well-informed source from the Naftohaz Ukrainy’s creditors told this to the Ukrainian News agency.
He said that these funds should have been accrued onto the account of the bank before November 20.
«The deadline for the redemption of the tranche expired yesterday. Naftohaz Ukrainy failed to pay over USD 50 million,» the source said.
He said that in compliance with the requirement of the loan contract, the loan should be redeemed in equal parts on May 20, 2008, November 20, 2008 and May 20, 2009.
As Ukrainian News earlier reported, the Standard Bank’s loan has been granted without any security and state guarantees.
The loan interest rate is LIBOR+1.65% per annum.
Naftohaz Ukrainy holds monopoly rights to the transportation of natural gas by transit gas pipes, transportation of oil by oil pipelines, and is Ukraine's largest producer and seller of natural gas, and also the biggest oil producer.
