MHP and ChelPipe pick up cheap dollars

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By Lewis McLellan
12 Sep 2019

A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding.

MHP, a Ukrainian meat production company, is looking for $350m of 10 year paper. Leads JP Morgan and ING set initial price thoughts at 7%. The book grew swiftly, allowing the leads to revise guidance to 6.75% area, and then to 6.5%-6.625% with books over $1.7bn.

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