Ukraine's MHP announces plans for new Eurobond issuance, early repurchase of 2026 Eurobonds

MOSCOW. Jan 16 (Interfax) - MHP, a leading Ukrainian and international food and agricultural company, launched an offer on Thursday to repurchase its Eurobonds worth $550 million maturing in 2026 and also announced plans for a new issuance of Eurobonds maturing in 2029 to finance the repurchase, Ukrainian media reported.

MHP said in a statement on the London Stock Exchange that this redemption will be conditional on the consummation of the issuance of new Eurobonds through which MHP is seeking gross proceeds of at least $450 million which, together with a cash balance of $100 million, is sufficient to permit the company to repurchase and/or redeem all of the $550 million principal amount of the 6.95% notes due in 2026.

The purchase price for bonds tendered by 5:00 p.m. New York time on January 29, 2026 and by 11:00 p.m. New York time on February 12, 2026 is the same and equals the principal amount plus accrued interest, but the settlement timeframes are different.

If MHP succeeds, it will be the first Eurobond issuance by a company from Ukraine since the start of the crisis.