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DTEK Eurobonds fall 11.6% after Zelensky’s allegations about Akhmetov

November 26, 2021 5:32 amby Max Hunder

The company’s foreign currency bonds, which mature in 2027, fell sharply after Zelensky alleged in his Nov. 26 press conference that DTEK owner Akhmetov, Ukraine’s richest man, was being pulled into a Russian-backed coup attempt (see more on it above). Akhmetov denied the accusations.

DTEK is Ukraine’s largest private electricity provider, responsible for around 25% of power generation in the country. The vast majority of DTEK’s electricity comes from coal, but the company recently began a pivot to renewables.

Last week, DTEK publicly threatened to sue the state-owned Guaranteed Buyer company for freezing $115 million of overdue debt repayments in a long-running conflict over renewable energy tariffs. DTEK’s green bonds were unaffected by Zelensky’s allegations.

Max Hunder
Author: Max Hunder

Max Hunder is a business reporter at the Kyiv Independent. He previously worked as a business reporter at the Kyiv Post focusing on infrastructure and energy. He is a graduate of Eton College and University College London, and has reported for international publications from London, Kyiv and Yerevan.