Poultry producer MHP to place Eurobonds worth USD 550mln at London Stock Exchange. The annualized yield of the bonds is 6.95%. The bonds mature on 3 April 2026. The long term issuer is Luxembourg MHP Lux S.A.
The raised funds will be channeled for the buyout of all Eurobonds maturing in 2020 amounting to USD 496.5mln bearing an annualized coupon yield of 8.25%. More than USD 409mln bonds have already been offered following the announcement of the redemption of bonds.
The other part of the expected financing will be channeled into refinancing of other short-term liabilities of the company along with corporate spending and diversification needs of the poultry and horticulture businesses of the holding.
At this, MHP has also other plans to acquiring French poultry producer Doux experiencing financial troubles since 2016.
