The "Guaranteed Buyer" State Enterprise today actually admitted the manual intervention to the process of distribution of the European loan targeted to repay debts to "green" investors, including DTEK Renewables enterprises. Artificial delay of funds on the accounts of Oschadbank JSC and the subsequent reverse withdrawal of funds that were supposed to be paid to the company show signs of illegal actions and malpractice of officials at the state enterprise, the bank and senior state officials who gave the corresponding illegal orders. The presence of illegal actions of individuals is confirmed by disagreements in public statements of Oschadbank and the State Enterprise.
Illegal actions of a number of officials led to a drop in quotations of DTEK Renewables Eurobonds. In particular, the value of DTEK Renewables Eurobonds after manipulation of funds by the Guaranteed Buyer State Enterprise fell below par. At the same time, quotations of Eurobonds of NEC Ukrenergo and sovereign credit indicators of the state of Ukraine fell.
DTEK Renewables requires from the Guaranteed Buyer State Enterprise, Oschadbank JSC, the Cabinet of Ministers of Ukraine, as well as the President's Office to ensure the prompt payment of the debt to the company. Further delays will be regarded as increased political and financial pressure on business.
DTEK is preparing for the legal protection of its rights and compensation for damage caused to the company and investors in international instances and national courts.
