Sayenko Kharenko acted as Ukrainian legal counsel to J.P. Morgan, Morgan Stanley and VTB Capital, the lead-managers of the USD 750 million 8.25% Eurobond issue due 2020 by MHP S.A. (“MHP”), the holding company of Myronivsky Hliboproduct, Ukraine’s leading agro-industrial holding.
The new Eurobond issue was coupled with the cash tender offer and consent solicitation in relation to the MHP outstanding USD 580 million 10.25% notes due 2015.
MHP was the first Ukrainian agrarian holding to issue bonds in 2013. Funds attracted will be used for repayment of short-term debt, increase of the land bank and increase of overall liquidity.
Sayenko Kharenko’s team for the current transaction included senior associates Igor Lozenko and Iryna Bakina, associates Marta Hontaruk and Olena Krasna and was led by partner Nazar Chernyavsky.