KIEV, Ukraine - The Luxembourg stock exchange suspended trade in the bonds of Ukraine's troubled natural gas company Naftogaz on Thursday amid concerns it might default on Eurobonds maturing next week.
The exchange said in a statement on its Web site that the decision was due to unspecified violations in its regulations. Exchange and Naftogaz officials could not immediately be reached for comment.
State-owned Naftogaz is in talks to restructure a $1.6 billion loan which comes due this year, including $500 million in Eurobonds that should be paid by Wednesday.
Worried creditors and some analysts say that the company will be unable to meet that deadline and could default on the bonds. Government officials deny that, saying that a default will be avoided.
Naftogaz is central to the delivery of Russian natural gas supplies to European consumers as most of the gas is carried by Ukrainian pipelines. Previous debt problems at Naftogaz have contributed to supply disruptions.
