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Hogan Lovells Advises Noteholders on Debt Restructuring for Ukraine’s Naftogaz

Hogan Lovells Advises Noteholders on Debt Restructuring for Ukraine’s Naftogaz

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Hogan Lovells has advised an ad-hoc group of Naftogaz' 2026 note holders on the amendment and extension of its USD 500 million 7.625% 2026 eurobonds. Freshfields reportedly advised Naftogaz.

Naftogaz is the state-owned national oil and gas company in Ukraine.

According to Hogan Lovells, “Naftogaz has been heavily impacted by the ongoing conflict in Ukraine resulting in the default of its 2022 notes and, subsequently, its 2024 and 2026 notes. The negotiated terms, which received over 91% of the 2026 bondholders' support and approval from the Cabinet Ministers of Ukraine, saw an extension of the maturity dates for the 2026 notes, (with 50% of the outstanding principal being redeemed in November 2027 and the remainder in November 2028) with similar adjustments made for the 2022 notes.”

The Hogan Lovells team included lawyers in London and New York.

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