Options issued under the capital increase Naftogaz OVDP the same as that of a recapitalization of banks

Cabinet of Ministers of Ukraine intends to issue an internal state loan bonds (OVDP) due 2017-2019 biennium. and yield 9.5% per annum on the amount of UAH 18.6 billion to increase the authorized capital of NAK Naftogaz of Ukraine. Relevant parameters of release gosobligatsy approved governmental decree number 765 dated 22 July 2009.
The same document

Cabinet amended its order number 711 of 8 July 2009. In particular, the issue of new shares Naftogaz to the amount of 18.6 billion UAH implemented through the exchange of shares issued on gosobligatsii without an increase in the budget stabilization fund.

In addition, the government changed the wording uses Naftogaz of funds from the increase in authorized capital. If the Government is obliged to Naftogaz to send the funds to carry out calculations on loans attracted from NJSC Oschadbank, the new ruling gosholding must ensure the use of OVDP in the economic activities of the company according to the company.

The Government had also recommended that the State Commission on Securities and Stock Market review July 27, before the statement of the Naftogaz to register the issuance of shares to the extension until 30 November deadline for the submission of company documents required for such registration.

As reported, after the adoption of the above ruling prime of Ukraine Yulia Tymoshenko said that the government securities will be made to the charter capital of Naftogaz to 27 July.

Currently, the charter capital of Naftogaz Ukraine of 5 billion 564.714 million UAH. The need for capitalization of the company, including the calculation of credited its state banks and to attract new loans for the purchase of gas, previously said the head of the National Bank of Ukraine Volodymyr Stelmakh.

Earlier the Government had decided to make OVDP due 2017-2019 biennium. and yield 9.5% per annum for a total nominal amount of UAH 9.474 million in capital from the state rekapitaliziruemyh Ukrgasbank, Rodovid the Bank and the Bank Kiev.