Sovereign
Naftogaz (NAFTO)
The state oil and gas monopoly Naftogaz Ukrainy controls 100% of oil and gas transportation and storage and most of oil and gas extraction in Ukraine. Naftogaz’s key assets include Ukrnafta (near-monopoly producer of oil in Ukraine); Ukrgazvydobuvannya (largest producer of gas and gas products); Chornomornaftogaz (offshore oil and gas producer); Ukrtransnafta (oil pipeline operator); Ukrtransgaz (gas pipeline operator), and Gaz Ukrainy Trading House (gas distribution company).
| Year | 2014 |
| Issue Volume ($m) | 1,595 |
| Coupon Rate (% p.a.) | 9.50% |
| Coupon Frequency | - |
| Maturity Date | 9/30/2014 |
| Ratings: Moody's/S&P/Fitch | - |
| Market Price* ($) | 95.75 |
| Market YTM* | 11.60% |
| Spread over UST* | 1,131 |
| Year | 2009 | 2010 | 2011 | 2012 |
| GDP ($bn) | 117.00 | 136.00 | 165.00 | 181.00 |
| GDP per Capita ($) | 2,549 | 2,980 | 3,614 | 3,982 |
| Total Public Debt ($bn) | 39.80 | 54.30 | 59.90 | 59.50 |
| Total Public Debt (% GDP) | 34.80% | 39.93% | 36.42% | 32.82% |
| Debt to IMF ($bn) | 12.90 | 16.30 | 16.30 | 12.90 |
| Ext. Debt w/o IMF ($bn) | 13.70 | 18.50 | 21.90 | 24.70 |
| Ext. Debt w/o IMF (% exports) | 25.30% | 26.71% | 24.68% | 29.15% |
| Debt Service (% state rev.) | 4.30% | 6.05% | 7.31% | - |
| Gross F/X Reserves ($bn) | 26.50 | 34.58 | 31.80 | 26.20 |
| UAH:$ (e-o-p) | 8.00 | 7.96 | 8.04 | 8.00 |
| UAH:$ (avg.) | 8.14 | 7.95 | 7.99 | 8.00 |
| Covenants |
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| Payment of Taxes |
$20m |
|
| Financial Reports |
A - within 7 months |
|
| Failure to pay |
5 days |
|
| Cross default |
$20m |
|
| Expiry of licanse, illegality, insolvency etc. |
|
|
| Judgments |
$25m/60 days |
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