Ukraine's MHP to buy back $223.7 mln of outstanding 2026 notes on Feb 18

MOSCOW. Feb 18 (Interfax) - MHP, a leading Ukrainian and international food and agricultural producer, said on February 17 that conditions for the redemption, announced on January 15, of $550 million of notes maturing on April 3 had been satisfied and it would buy back the outstanding $218.014 million of the issue for $223.696 million on February 18.

Ukrainian media reported, quoting a MHP stock exchange filing, that the redemption price per note with par value of $200,000 would be $205,212.5 and the price per note with par value of $1,000 would be $1,026.06.

The redemption price before accrued interest is equal to par.

As reported, in order 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.