MHP becomes the first Ukrainian company to close a Eurobond issue deal since 2022

MHP has become the first company in Ukraine to close a deal on a new Eurobond issue since the start of Russia’s full-scale invasion in late February 2022.

According to the company, the first Eurobond issuance following the full-scale war effectively reopens the public bond market window for Ukraine. “This is a historic event for the country’s economy as it overcomes the challenges of war,” the company said.

MHP priced the bond issue with an aggregate principal amount of $450 million, carrying an interest rate of 10.500% and maturing in 2029. The bonds will be guaranteed by MHP SE, certain of its subsidiaries registered in Ukraine, as well as MHP Europe Limited.

The agricultural holding plans to use the proceeds from the placement of the new bonds, together with its own $100 million, to repurchase all outstanding bonds of MHP Lux S.A. The total outstanding amount of these bonds is $550 million; they carry a coupon of 6.95% and are due to mature in 2026. Following the buyback, the company intends to redeem them in full.

The 2026 bonds that are not tendered by holders as part of the offer are expected to be redeemed at par on February 18, 2026, in accordance with a separate redemption notice.