Eurobonds are key MHP's funding sources — Kapelyushnaya

Eurobonds are the main source of funding for the agro-industrial holding Myronivsky Hliboproduct (MHP). This was stated by Viktoria Kapelyushnaya, Executive Director and Chief Financial Officer of the company, within the framework of business breakfast with MHP, TAS Agro, Agrovista and the State Savings Bank of Ukraine (Oschadbank).

“Eurobonds are the main source. They account for 85 per cent of our financing portfolio. Due to their longtermness (8 years), it is one of the most convenient financial instruments. It is also important to enter the market at the right time,” said Viktoria Kapelyushnaya.

According to her, the complexity of work lies in short-term loans unprofitability if a company invests resources in development.

“Short-term financing is allocated only for working capital. Therefore, we continue working with international financial institutions such as IFC, the European Bank for Reconstruction and Development (EBRD). We are open to any financing with good conditions,” said the Chief Financial Officer of MHP.

She also noted that the company was completing the construction of 3-4 phases of the Vinnytsya poultry farm and had finalized the purchase of the Slovenian company Perutnina Ptuj.

Previously it was reported that shareholders of the European Bank for Reconstruction and Development (EBRD) did not consider the allocation of funds for the MHP project. The meeting was postponed to a later date.