KIEV, Sept. 25 - A group of investors holding bonds in Naftogaz will determine their position on the debt restructuring terms proposed by the Ukrainian national oil and gas company by Sept. 30.

The creditors are still studying Naftogaz's proposal and have not determined their position, Carl Philipp R. Thomas, an associate of Luxembourg-based Aequi-Libria consultancy firm and a member of the Naftogaz Bondholder's Action Group, told Interfax.

He said the group would hold consultations with its lawyers Clyde & Co and also discuss the further strategy with other bondholders. The group expects to determine its position and strategy by Sept. 30, he said.