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Ukraine’s MHP reports early tenders for $245.2 million of 8¼% notes
By Susanna Moon
Chicago, April 27 – MHP SA said investors had tendered $245.2 million of its $750 million 8¼% notes due April 2, 2020 by 3 a.m. ET on April 27, the early tender date.
As announced April 24, the total purchase price was raised to $1,037.50 for each $1,000 principal amount of notes tendered the early deadline.
Holders who tender after the early deadline will receive $997.50 per $1,000 principal amount.
The company said on April 18 that it is tendering for up to $350 million principal amount of its 8¼% notes at a total purchase price of $1,027.50 per $1,000 of notes.
The tender offer will remain open until 11:59 p.m. ET on May 15.
The company also will pay accrued interest.
MHP plans to price new notes as part of the refinancing.
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, as previously noted.
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Tendered notes may no longer be withdrawn as of the early deadline.
Settlement has been set for May 17.
The joint dealer managers are J.P. Morgan Securities plc (+44 20 7134 2468 or em_europe_lm@jpmorgan.com) and 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, MHP@dfkingltd.com or https://sites.dfkingltd.com/mhp).
The issuer is a Kiev, Ukraine-based agriculture-industrial company.
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