DTEK Energy takes urgent measures to minimize the negative economic consequences of the crisis
In the context of a growing economic crisis, caused by the COVID-19 coronavirus pandemic, as well as falling global financial markets and collapsing commodity prices, DTEK Energy has taken emergency measures and suspended payment of coupons on Eurobonds and interest on bank debt in order to minimize the negative economic consequences.
The crisis response plan, developed by DTEK Energy, includes measures aimed to minimize the negative economic consequences in the context of a growing economic crisis caused by the COVID-19 coronavirus pandemic, and is necessary to ensure the operation of enterprises, the protection of employee’s health, and to maintain the continuity of production processes in emergency situations.
“On March 25, the Ukrainian government introduced an emergency decree across the regions of the country and decided to extend the quarantine until April 24, 2020. This means that DTEK Energy must immediately take all necessary measures to maximize the concentration of resources and guarantee the continuity of production processes that will provide Ukrainians with electricity and heat during quarantine. In the current situation our responsibility is to ensure energy independence and energy security of Ukraine”, said DTEK Energy CEO Dmytro Sakharuk.
DTEK Energy is developing a Proposal for the introduction of a “standstill” and debt restructuring regarding the issue of Eurobonds and asks the holders of Eurobonds and bank debt to support the company in this difficult decision. Today, it is critically important to combine forces in the fight against the COVID-19 pandemic.