MHP redeemed its USD 138 million Eurobonds

MHP redeemed USD 138 million of Eurobonds at 95% of par before maturity in May 2024, Forbes reports with reference to the company's report.

The agroholding's offer to redeem USD 349 million worth of Eurobonds due on 10 May 2024 for 95% of the face value was accepted by holders of Eurobonds totalling USD 138 million (39.54% of the outstanding aggregate amount of the bonds). In the following nine days, after the redemption price was reduced to 85%, no bids were received.

Settlements with the sellers were expected on January 23, and the bondholders will be paid USD 950 for every USD 1,000 of principal amount of the bonds. The securities purchased as part of the tender offer will be cancelled.

MHP's Eurobonds for a total nominal amount of USD 211.1 million remain in circulation.

In November last year, the company bought back USD 150 million worth of bonds for 85% of the par value.