PhosAgro ao

Capital/Financing Update • Nov 22, 2024

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author: Кузеванов Иван Сергеевич
date: 2024-11-22 15:19:00+00:00

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PhosAgro Successfully Issues RUB 20 Billion in Bonds

Moscow – PJSC PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has successfully completed the placement of RUB 20 billion in BO-02-01 series exchange-traded bonds with a variable coupon.

The bonds have a maturity period of five years, with a put option available after two years. The variable rate on the monthly coupon payments is set as the Bank of Russia key rate plus a spread of 200 bps.

“We successfully placed the bonds on the best-possible terms in the current market environment. The variable coupon was set at an enticing level that is available only to issuers with an excellent history of public placements and top credit ratings. The attention and trust shown by investors reflect our stable financial position and high credit quality,” said Alexander Sharabaika, Deputy Chairman of PhosAgro’s Board of Directors and Deputy CEO for Finance and International Projects.

Expert RA has assigned the issue its highest-possible credit rating, ruAAA.

PhosAgro plans to use the funds raised for general corporate purposes, including capital investments and refinancing its current liabilities.

About the Company

PhosAgro (www.phosagro.ru) is a vertically integrated Russian company and one of the world’s leading producers of phosphate-based fertilizers and high-grade phosphate rock with P2O5 content of 39% or higher. PhosAgro’s high-performance fertilizers produce crops with advanced features.

PhosAgro Group is the largest producer of phosphate-based fertilizers in Europe (by total combined capacity for the production of DAP, MAP, NP, NPK and NPS fertilizers), one of the leading producers of MAP and DAP fertilizers globally, one of the leading producers of monocalcium feed phosphates (MCP) in Europe – and the only such producer in Russia – and Russia’s only producer of nepheline concentrate.

PhosAgro’s main products, including phosphate rock, 58 grades of fertilizers, feed phosphates, ammonia and sodium tripolyphosphate, are used by customers in 100 countries spanning all the world’s inhabited continents. The Company’s priority markets beyond 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 can be found on our website: www.phosagro.com.