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DFC loans USD 250 million to MHP
24 October 2023, 15:03
The U.S. International Development Finance Corporation (DFC) announced a USD 250 million loan to MHP to support the company's efforts to mitigate the effects of russia’s war against Ukraine.
"The funds would be used to refinance maturing debt and support the continued maintenance and war-related expenditures of its poultry and grain production. The loan would also support the company’s ability to increase food production and storage and support its export capacity, while mitigating the devastating effects of food insecurity exacerbated by the war," the statement reads.
The loan to MHP would provide the company with funds to assist in the company’s refinancing needs for existing debt as well as capital to support improvements to facilities, including increased storage capacity and installation of electrical backups. DFC’s loan would also support the company’s transportation operations, increasing the company’s ability to transport goods via truck over land. These investments would support MHP’s production and export capacity.
DFC has committed USD 425 million in new transactions in Ukraine over the last year across a variety of sectors and all of its lines of business, including through equity investments, political risk insurance, debt financing, and technical assistance.