| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2023 > News item |
Ukraine’s MHP starts tender offer for 7¾% guaranteed notes due 2024
Chicago, Dec. 12 – MHP SE started a cash tender offer for the $349,203,000 outstanding 7¾% guaranteed notes due May 10, 2024 (ISIN: XS1577965004, US55302TAD72), according to an announcement.
The company is offering to buy any and all of the notes at a $950 tender offer consideration per $1,000 note, inclusive of a $100 early tender premium that will not be paid to noteholders who tender past the early deadline. Accrued interest will also be paid.
The early deadline is 5 p.m. ET on Jan. 4.
The tender offer expires at 11:59 p.m. ET on Jan. 19.
Payment is expected for Jan. 23.
The company said the purpose of the tender offer is to proactively and prudently address its debt under the notes in advance of their maturity in the context of the ongoing war in Ukraine and associated operational and financial risks. The company said it can do so by utilizing financing expected to be made available to the group by major international development finance institutions for such purposes and its existing cash resources.
The company conducted a tender offer for the same notes that ended on Nov. 8. Under that offer, noteholders tendered $150,797,000 of the notes.
Following the first tender offer, the company continued in dialogue with its noteholders. As part of those discussions, noteholders holding more than 10% of the current outstanding principal amount expressed interest in tendering their notes. To treat all creditors fairly, the group decided to extend the follow-on tender offer to all noteholders.
The tender consideration in the second offer is higher than the first. The company said this in line with the market price of the notes substantially appreciating since the first offer.
The dealer manager is J.P. Morgan SE (em_europe_lm@jpmorgan.com).
Kroll Issuer Services Ltd. (+44 20 7704 0880; mhp@is.kroll.com; https://deals.is.kroll.com/mhp) is the tender and information agent.
The issuer is a Kyiv, Ukraine-based agriculture-industrial company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.