The Cabinet has increased the authorized capital of Naftogaz of Ukraine "by 5 billion UAH. This is stated in the Government Decree № 1208 of December 29, released today. To increase the authorized capital will be issued bonds of domestic treasury bonds in the amount of 5 billion USD. with maturity of 5-7 years and interest rates income not exceeding 9.5% per annum. In this case, 100% of the gas monopoly remains in state ownership. The decision comes into force on 1 January 2011. In addition, the Cabinet authorized the release Naftogaz registered interest-bearing bonds worth UAH 20.416 billion. This is stated in the decree of the Cabinet on 15 December 2010 № 1207. The bonds will be issued for the restructuring of Naftogaz of loan agreements with the state Oschadbank. In this case, Naftogaz should submit the State Commission on Securities and Stock Market until December 31 documents for registration and prospectus of bonds. As reported on November 29, Naftogaz planned to sell T-bills Oschadbank at 3 billion USD. to repurchase up to 2 June 2011. Note that due to these operations, Naftogaz finance their monthly payments to Russia's Gazprom for imported gas. Naftogaz of Ukraine "combines the largest oil and gas enterprises in the country. Has a monopoly on the transit and storage of natural gas in underground storage, and transportation of oil through pipelines across Ukraine. The company is managed by the Ministry of Energy and Mines. Ministry of Industry
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