Ukrtransgaz Signs Agreement On Debt Restructuring Of UAH 1.47 Billion With ERU Trading

The operator of the gas transportation system, Ukrtransgaz, has signed an agreement on debt restructuring in the amount of UAH 1.47 billion with the ERU Trading company. Ukrtransgaz said this in a statement, the Ukrainian News Agency reported. “On June 27, Ukrtransgaz concluded an agreement on debt restructuring for a total amount of UAH 1.47 billion, writing off penalties imposed and settling other mutual claims with ERU Trading,” the statement reads. It is noted that the implementation of the transaction by Ukrtransgaz will settle the claim of the Overseas Private Investment Corporation (OPIC) about settlement of losses to the government of Ukraine, since the contracts for the supply of gas of ERU Trading to Ukrtransgaz are covered by OPIC insurance policy - an independent U.S. government agency which helps U.S. companies invest in emerging markets. Read more