MHP receives bids for $332 million, or 60.4%, in its 2026 Eurobonds

MOSCOW. Feb 13 (Interfax) - MHP, a leading Ukrainian and international food and agricultural producer, received bids for $331.986 million, or 60.36%, of $550 million Eurobonds maturing on April 3 in a repurchase announced on January 15, Ukrainian media reported referring to the company's announcement on the London Stock Exchange.

Bids for $330.786 million were submitted before January 29 and another $1.2 million before February 12, it said.

MHP reiterated that all the outstanding bonds worth $218.014 million will be repurchased at par, i.e. at the price announced in the tender offer.

As reported, to repurchase its 6.95% 2026 bonds, MHP placed $450 million in 10.5% 2029 Eurobonds on January 28 and another $100 million on February 10 at 104% of par.

The lead manager of the repurchase was JP Morgan, which, along with Ukraine's Dragon Capital, was also a lead manager of the new placement.

MHP is the largest chicken producer in Ukraine. It cultivates 360,000 hectares of farmland in 12 regions of Ukraine. It produces grain, vegetable oil, and meat products, which it exports to more than 80 countries.

The holding's production assets are based in Ukraine and Southeast Europe, and it also has subsidiaries in the Netherlands, the United Kingdom, the United Arab Emirates, Saudi Arabia, and EU countries.

MHP's sales in January-September 2025 grew 16% to $2.635 billion and net profit grew 52.5% to $215 million.