Companies@UA: База компаний Украины

Kyiv, July 28 (Interfax-Ukraine) – The Ukrainian cabinet plans to issue state domestic loan bonds worth UAH 18.6 billion to mature in 2017-2019 and with a 9.5% annual interest rate, so as to increase the statutory fund of National JSC Naftogaz Ukrainy.

The terms of the bond issue were approved by cabinet resolution No. 765 of July 22, 2009, which has been sent to Interfax-Ukraine.

The cabinet amended its resolution No. 711 of July 8, 2009. In particular, the issue of new Naftogaz shares worth UAH 18.6 billion would be exchanged for state bonds without increasing the stabilization fund of the national budget.

In addition, the government has changed the description of the allocation of funds received by Naftogaz Ukrainy from an increase in its statutory fund. While earlier the government obliged Naftogaz to use the funds to pay back credits raised from Oschadbank, the new resolution obliges the state holding to use the funds in its economic activities in line with the company's regulations.

The government also recommended the State Commission for Securities and the Stock Market to consider before July 27 a Naftogaz Ukrainy application to register the issues of shares, with the prolongation of the submission of documents required for the registration until November 30, 2009.

As reported, after the issuing of the resolution, Ukrainian Premier Yulia Tymoshenko said that state securities would be placed in Naftogaz Ukrainy's statutory fund before July 27.

At present, the company's statutory fund amounts to UAH 5.565 billion.