MHP launches $450 mln Eurobond sale: if successful, it will be first in Ukraine since start of Russian aggression in 2022
International food and agro-tech company MHP, which last week announced the buyback of its $550 million Eurobonds maturing in April 2026 and plans for a new issue of Eurobonds maturing in 2029 to finance the buyback, has launched the sale of this new issue, Interfax-Ukraine reported.
According to it, the initial set yield for discussion is currently around 11% per annum.
The dealer managers are JP Morgan SE (Frankfurt am Main, Germany) and Dragon Capital (Kyiv).
Information about the launch of the sale on Wednesday was also disseminated by Bloomberg, citing sources.
If MHP succeeds, this will be the first time a Ukrainian issuer has issued Eurobonds since the full-scale Russian aggression in February 2022 (excluding issues during the restructuring).
As reported, the buyback of the 2026 Eurobonds will depend on the results of the new Eurobond issue, from which MHP would like to receive at least $450 million, which, together with the remaining cash of $100 million, would be sufficient for the full buyback of the 2026 Eurobonds, the nominal rate of which is 6.95% per annum
