MHP Agroholding purchased ahead of schedule for 95% of the face value of Eurobonds worth $138 million with maturity in May 2024. This is discussed in the company's announcement on the Irish Stock Exchange, Forbes reports.
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Offer of the MHP agricultural holding to repurchase for 95 % of the par value of Eurobonds for $349 million with redemption on May 10, 2024 was accepted by the owners of Eurobonds for a total nominal amount of $138 million (39.54% of the outstanding total amount of bonds).
In the next nine days, when the redemption price was reduced to 85 %, no applications received. Settlements with sellers were due to take place on January 23. Bondholders will be compensated in the amount of $950 for every $1,000 in principal amount of the bonds. The securities purchased as part of the tender offer will be cancelled, the exchange statement says.
MHP Eurobonds with a total nominal amount of $211.1 million remain in circulation.
