Gazprom says to set Eurobond terms after litigations with Kiev

VIENNA, Jan 28 (PRIME) -- Russian gas giant Gazprom will decide on the terms of a Eurobond depending on the results of litigations with Ukraine, Alexander Ivannikov, head of a department, told reporters.

“Which other options can we have (to hold road show) – London and the U.S. Everything will depend on the situation with the court decisions that we will see at that moment. The (court) decisions are now in favor of us, now in favor of Ukraine. Making dollars in America is not safe,” Ivannikov said.

Gazprom’s board of directors approved placement of up to 3 billion euros of Eurobonds in 2019 last week.

In 2018, the Stockholm arbitration court ruled that Gazprom must pay Ukraine’s Naftogaz Ukrainy U.S. $2.56 billion for non-shipment of gas. Gazprom said that the decision led to an imbalance in relations of the companies and requested termination of gas transit and delivery contracts with Ukraine.

The Russian company appealed against the decision in March. Naftogaz Ukrainy tried to enforce the reclaim of the penalty; various European courts ruled for arrest of Gazprom’s assets but later revoked the measure.

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