MHP bought back the balance of Eurobonds due 2026 for $223.7 million

Agricultural company MHP announced the fulfillment of the conditions for the redemption of Eurobonds with a nominal value of $550 million with repayment on April 3 of this year.

According to it, today, February 18, the company will redeem the remaining amount of such bonds with a total nominal value of $218.014 million for $223.696 million, Interfax-Ukraine reports.

As noted in the company’s stock exchange announcement, the redemption price is $205 thousand 212.5 for every $200 thousand of the nominal value of the bonds and $1 thousand 26.06 for every $1 thousand of the nominal value.

Earlier, MHP received redemption applications from bondholders in the amount of $331.986 million, or 60.36% of the issue volume. In the early tender period – until January 29 – applications were submitted for $330.786 million, and then in the period until February 12 – for another $1.2 million.

As a reminder, MHP plans to use the funds raised as a result of the additional placement, together with the funds from the initial issue of 2029 bonds, to finance the offer to redeem and repay the entire volume of MHP Lux S.A. bonds with a rate of 6.95% and maturity in 2026 for a total principal amount of $550 million, as well as to cover the costs associated with the placement of bonds.

MHP previously announced an additional placement of Eurobonds due to significant investor interest.