Avellum Partners advises MHP S.A. on its USD 330 million offering of 10.25% Senior Notes due 2015

Avellum Partners acted as Ukrainian legal counsel to MHP S.A. and its Ukrainian operating companies on USD330 million offering of 10.25% Senior Notes due 2015 and listing of the Notes on the London Stock Exchange.

MHP is one of the leading agro-industrial companies in Ukraine, focusing on the production of chicken meat and, to an increasing extent, the cultivation of various grains. MHP is the leading poultry company in Ukraine, accounting for approximately 43% of all chicken meat industrially produced in Ukraine in 2009.

The transaction was structured as an offering of Notes by MHP S.A., a Luxembourg holding company of MHP Group, with upstream guarantees from the MHP Group’s Ukrainian principal operating companies and pledges of proceeds loans for the benefit of Noteholders. The offering was made pursuant to Rule 144A and Regulation S.

The Avellum Partners team was led by partners, Glib Bondar and Mykola Stetsenko, and included Associates, Iryna Nikolayevska, Yuriy Nechayev, Vladyslav Golub, Mykyta Nota, and Katerina Melnikova.

Commenting on this news, Glib Bondar said: “This offering of Eurobonds by MHP is the first completed debt offering by a Ukrainian private industrial producer in the post-crisis period and we are extremely proud to represent MHP on this landmark transaction”.

Mykola Stetsenko added: “We have a long-standing relationship with MHP and are very proud and happy for our client and their excellent achievements. We believe that this transaction is a positive sign for the Ukrainian market”.

Freshfields Bruckhaus Deringer acted as English and US legal advisor to MHP.

Morgan Stanley, UBS Investment Bank and ING acted as joint bookrunners and Renaissance Capital acted as comanager and were advised by Allen & Overy (English and US law matters) and Sayenko Kharenko (Ukrainian law matters).