Naftogaz

Naftogaz is Ukraine’s largest natural gas producer and supplier, accounting for 80% of domestic gas extraction and more than two-thirds of total gas supplies. As a fully state-owned enterprise, Naftogaz manages a broad portfolio of state energy assets, including oil and gas production facilities, 30 underground gas storage sites with total capacity of 31 bcm, refining operations (currently idling), fuel retail infrastructure, oil transit pipelines, gas distribution networks, and CHP plants.

Year 2026 2028
Issue Volume ($m) 600 500
Coupon Rate (% p.a.) 7.125% 7.625%
Coupon Frequency A S/A
Maturity date 7/19/2026 11/8/2028
Ratings: Fitch/Moody`s/S&P CC/C/—/—/—/— CC/C/—/—/—/—
Market Price* ($) 91.00 89.75
Market YTM* - 14.40%
Spread over UST* - -
Note: *Based on bid price.
Year 2021 2022 2023
Net Sales ($m) 7,969 *** ***
EBITDA ($m) 1,792 *** ***
Net Income ($m) 441 *** ***
EBIT Coverage Ratio (x) 3.89 *** ***
Net Debt/Equity (%) 17.2% *** ***

Company Peers

Latest news about Naftogaz

Jul 15, 2026
| Oil & Gas

Naftogaz — Bondholders agree to restructure $1.2bn notes

Naftogaz has secured bondholder consent to restructure its EUR 695m Eurobonds due in July 2026 and $584m notes maturing in November 2028. The required quorum represented 97% and 95% of the outstanding principal of the 2026 and 2028 notes, respectively, with a vast majority voting in favor of the proposed amendments. The company will now proceed with the issuance of the new bonds, expected on Jul. 17, after paying the consent fee and 80% of the coupon accrued on the 2026 notes since Jul. 19, 2025.
Jun 30, 2026
| Oil & Gas

Naftogaz — Launches consent solicitation to restructure bonds

Naftogaz announced a consent solicitation to restructure its EUR 695m Eurobonds maturing in July 2026 and $584m bonds due in November 2028.
Contact us at +38 (044) 490 7120 for more information

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