Ukraine’s MHP sets roadshow for offering of six- or seven-year notes

By Colin Hanner

Chicago, April 18 – MHP SA plans to start a three-day roadshow for an offering of six- or seven-year notes, with size of the deal yet to be determined, a market source said.

The new notes are part of a refinancing that includes a cash tender offer for up to $350 million of the company’s $750 million 8¼% notes due 2020, the company said. The size of the deal will depend on the tender results, a market source said.

A two-team roadshow is expected next Monday, Tuesday and Wednesday, with the first team holding meetings in London, Boston and New York, a market source said. The second team will be in Switzerland, Amsterdam, Frankfurt and London during those days.

The notes are expected to price prior to early results of the tender offer, which has an early tender deadline of 3 a.m. ET on April 27.

The purpose of the tender offer is to lengthen the company’s debt maturity profile by refinancing the tendered notes with the new unsecured and unsubordinated notes.

J.P. Morgan Securities plc and ING Bank NV are the joint dealer managers for deal.

The issuer is a Kiev, Ukraine-based agriculture-industrial company.

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