Ukrainian poultry producer MHP has released initial price thoughts at 8.25% area for a seven year Reg S benchmark dollar bond. The deal, which will be MHP’s first since 2010, will be priced on Thursday (March 21).
JP Morgan, Morgan Stanley and VTB Capital are arranging the note.
At this level, the new bonds would be priced 175bp over the sovereign, in line with the average sovereign spread of the MHP 2015s over the past 12 months, said one analyst in London.
However, he said