MHP could issue 10-year $300-350 mln eurobonds
Myronivsky Hliboproduct (MHP) plans to issue 10-year $300-350 million eurobonds, which subject to market conditions.
According to a report of the agricultural holding on the London Stock Exchange (LSE) on Tuesday, the company has announced arranging meetings with fixed income investors in connection with a potential new eurobond transaction by its wholly owned subsidiary, MHP Lux S.A.
Currently, there are three holding's eurobond issues on the market – with maturity in April 2020, a coupon rate of 8.25% per annum and a yield of 3.294% per year; with maturity in May 2024, coupon rate of 7.75% per annum and yield of 5.902% per year. The last time MHP issued eight-year $550 million eurobonds in April 2018 with a yield of 6.95% per annum.
Myronivsky Hliboproduct is the largest producer of poultry in Ukraine. It is also engaged in production of grains, sunflower oil, meat. By the end of 2017, the land bank of the agricultural holding was about 370,000 hectares.
The founder and major shareholder of MHP is Ukrainian businessman Yuriy Kosiuk.