MHP places seven year $500 mln 7.75% notes – company

12:36, 28.04.2017 1 min read

Myronivsky Hliboproduct (MHP), a large agro-industrial company in Ukraine, has placed seven-year $500 million 7.75% notes, the holding has reported on the website of the London Stock Exchange (LSE).

The coupon rate is 7.75% per annum (paid twice a year). The notes were placed at the 100% face value of the securities.

The cost of MHP 2020 notes after trading session on April 27, 2017 grew by 1.32 percentage points, to 104.02%. Their yield fell to 6.706%.

Meetings with investors to prepare the placement of the notes have been held since April 24 in Europe and the United States. JP Morgan and ING organized the deal.

The company intends to use the proceeds of the new notes to finance its tender for up to $350 million aggregate principal amount of its $750 million 8.25% notes due 2020.

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