11:02 23.03.2018

MHP announces issue of eight-year $550 mln eurobonds at 6.95% per annum

1 min read
MHP announces issue of eight-year $550 mln eurobonds at 6.95% per annum

Myronivsky Hliboproduct (MHP) has announced the placement of eight-year $550 million loan participation notes at 6.95% per annum.

According to a company report on the London Stock Exchange (LSE), the securities will be due on April 3, 2026. Luxembourg-based MHP Lux S.A. issues the notes.

"MHP S.E. intends to use the proceeds of the Notes to finance its tender for any and all of its $495.6 million aggregate principal amount outstanding 8.25% notes due 2020, $409.783 million of which were validly tendered and not validly withdrawn prior to the early tender deadline, and for short-term debt refinancing, general corporate purposes and to finance the expansion and diversification of the MHP group's poultry and grain businesses," the company said.

The notes are expected to be rated B by Fitch, and B by S&P.

MHP is the largest poultry producer in Ukraine. It is also engaged in production of grains, sunflower oil, and meat.

The company supplies cooled halved carcasses of hens to the European market. They are processed there, including at its enterprises in the Netherlands and Slovakia.

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