PhosAgro ao

Capital/Financing Update • Jun 15, 2023

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author: Кузеванов Иван Сергеевич
date: 2023-06-15 08:59:00+00:00

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PhosAgro and Gazprombank Sign Agreement on Replacement Bonds at SPIEF 2023

St Petersburg – PJSC PhosAgro, one of the world’s leading producers of phosphate-based fertilizers, has signed an agreement with JSC Gazprombank to issue replacement bonds.

The signing ceremony took place at the St. Petersburg International Economic Forum. The agreement was signed by PhosAgro Deputy CEO Alexander Sharabaiko and Gazprombank First Vice President Denis Shulakov.

PhosAgro’s Board of Directors adopted the corresponding decision at its meeting on 14 June 2023, pursuant to Decree of the President of the Russian Federation No. 364 of 22 May 2023 requiring that Russian legal entities with Eurobond obligations ensure the fulfilment of said obligations to Eurobond holders whose rights are accounted for by Russian depositories by issuing replacement bonds by 1 January 2024.

The Company continues to maintain high standards in its relations with investors and plans to issue replacement bonds in the near future for its two remaining outstanding issues of Eurobonds maturing in 2025 and 2028.

Viktor Cherepov, the Chairman of PhosAgro’s Board of Directors, said, “As far as I am aware, PhosAgro is the first Russian issuer since the corresponding presidential decree was signed to adopt a decision to issue replacement bonds in accordance with the corresponding decree of the Russian President. Thus, today, with the support of our partners at Gazprombank, we are putting in place an effective mechanism to protect the interests of Russian investors.”

About the Company

PhosAgro (www.phosagro.ru) is a vertically integrated Russian company and one of the world’s leading producers of mineral phosphorous fertilizers and of high-grade apatite concentrate grading 39% P2O5 and higher. PhosAgro’s fertilizers are highly effective, ensuring the improved quality of agricultural produce.

PhosAgro Group is the largest manufacturer of phosphate-based fertilisers in Europe (by total capacity of DAP/MAP/NP/NPK/NPS production), the largest producer of phosphite grading 39% P2O5 in the world and one of the leading global producers of ammonium and diammonium phosphate, one of Europe’s leading and the only producer in Russia of monocalcium phosphate feed (MCP), and the only producer in Russia of nepheline concentrate.

The company’s main products, including phosphite, 57 grades of fertilizer, phosphate feed, ammonium, and sodium tripolyphosphate, are used in around 100 countries on all inhabited continents. Our priority markets, besides Russia and the CIS, are Latin America, Europe, and Asia.

The company's shares are listed on the Moscow Exchange and its Global Depositary Receipts (GDRs) are listed on the London Stock Exchange (MOEX and LSE ticker: PHOR).

More information about PhosAgro PJSC can be found on our site: www.phosagro.ru