| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Ukraine’s MHP tenders for up to $350 million of 8¼% notes due 2020
By Susanna Moon
Chicago, April 18 – MHP SA has begun tendering for up to $350 million principal amount of its $750 million 8¼% notes due April 2, 2020.
The total purchase price will be $1,027.50 for each $1,000 principal amount of notes tendered by 3 a.m. ET on April 27, the early tender date.
Holders who tender after the early deadline will receive $997.50 per $1,000 principal amount.
The tender offer will remain open until 11:59 p.m. ET on May 15.
The company also will pay accrued interest.
MHP is holding the tender “to proactively manage and lengthen the company’s debt maturity profile by refinancing a portion of the notes with unsecured and unsubordinated notes,” according to a company announcement.
Noteholders who tender their notes for cash and also subscribe for the company’s new issue of notes may apply for an allocation identifier code.
The company said it will review tender instructions and may give priority in the allocation of new notes to those investors tendering with the allocation identifier codes but cannot assure that it will do so.
There are no guaranteed delivery procedures in the offer.
Tendered notes may be withdrawn before the early deadline.
Settlement has been set for May 17.
MHP plans to price new notes as part of the refinancing.
The joint dealer managers are J.P. Morgan Securities plc (+44 20 7134 2468 or em_europe_lm@jpmorgan.com), ING Bank NV, London Branch (+44 20 7767 5107 or liability.management@uk.ing.com).
The information and tender agent is D.F. King Ltd. (+44 20 7920 9700, +852 3953 7230, 212 269 5550, 800 848 3405, fax 212 709 3328 or MHP@dfkingltd.com or https://sites.dfkingltd.com/mhp).
The issuer is a Kiev, 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.