MHP gets 96% of Eurobond holders to agree to swap

Myronivsky Hliboproduct announced this morning that 96.01% of Eurobond holders (corresponding to USD 240 mln of the outstanding USD 250 mln in principal) submitted tenders assenting to its exchange offer, resulting in an aggregate issuance of USD 254.8 mln of exchange notes that were tendered prior to its withdrawal deadline on April 21 and were settled by the early settlement date on April 29. MHP said it expects to settle tenders filed after the withdrawal deadline should be settled by Thursday, May 13. MHP issued USD 330 mln in Eurobonds due in 2015 at 10.25%, in addition to the USD 240.6 mln that it is issuing as part of its exchange offer for its Eurobonds due in 2011.