10:03 13.09.2019

MHP places ten-year eurobonds for $350 million with yield of 6.25% – source

1 min read
MHP places ten-year eurobonds for $350 million with yield of 6.25% – source

Myronivsky Hliboproduct (MHP) has placed ten-year eurobonds for $350 million with a yield of 6.25% per annum.

"MHP issued ten-year eurobonds worth $350 million at 6.25% per annum," a source in banking circles has told Interfax-Ukraine.

The funds will be used to refinance short-term liabilities, including eurobonds maturing in 2020, and general corporate needs.

At present, three issues of the holding's eurobonds are in circulation: 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, a coupon rate of 7.75% per annum and a yield of 5.902% per year. The last time MHP issued eight-year eurobonds in April 2018 for $550 million with a yield of 6.95% per annum.

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

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