Ukrainian agricultural holding MHP, one of the largest agro-industrial and food players in the country, has successfully completed a $100 million tap issuance of eurobonds carrying a 10.5% coupon and maturing in 2029. The bonds were issued through its wholly owned subsidiary MHP Lux S.A. and consolidated into a single series with the $450 million eurobond placement completed earlier in January 2026.
The company intends to use the proceeds to fully redeem its $550 million eurobonds due in 2026, while preserving liquidity for future investments. The transaction allowed MHP to avoid deploying $100 million of its own funds that had previously been earmarked for partial debt repayment.
The additional placement was priced at approximately 104% of par, including accrued interest, indicating strong investor demand and confidence. On the secondary market, the bonds are trading at a yield of approximately 9.2–9.6% per annum.
The issuance was led by international financial institutions, including JP Morgan and Dragon Capital, underscoring global investor interest in Ukrainian agricultural debt instruments.
The transaction forms part of MHP’s broader financial strategy aimed at active debt management and maintaining financial resilience amid a challenging geopolitical environment. Following the tap issuance, the total outstanding amount of MHP’s eurobonds due in 2029 has reached $550 million.
MHP is a major exporter of agricultural products. The company is Ukraine’s largest poultry producer, cultivates approximately 360,000 hectares of land across 12 regions, and is engaged in grain farming, oil production, and meat processing, exporting its products to more than 80 countries worldwide.
Earlier, as part of its announced 2026 bond buyback offer, MHP received tenders for more than 60% of the outstanding principal of the 2026 notes, with the final deadline for the tender offer set for February 12 and settlement scheduled for February 18.
The transaction reflects the continued presence of Ukrainian agricultural companies in international debt capital markets and their ability to raise capital for refinancing and further development under challenging economic conditions.
