Moscow — PJSC PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, hereby informs that, in line with the requirements of the Russian regulations presently in force, PJSC PhosAgro has arranged for a split payment of interest due on 23 July 2022 under the U.S.$500,000,000 3.05 per cent. Loan Participation Notes due 2025 (the "Notes") issued by, but with limited recourse to, PhosAgro Bond Funding Designated Activity Company (the "Issuer").
Accordingly, on 22 July 2022, PJSC PhosAgro arranged for a transfer of interest, in Russian Roubles, equivalent to the aggregate amount of interest payable to the Noteholders which hold their Notes through the Russian National Settlement Depository or other Russian custodians being the accountholders of foreign nominee holders for onward distribution to such Noteholders.
Simultaneously, PJSC PhosAgro applied to the Ministry of Finance of the Russian Federation ("MinFin") seeking approval of the balance of interest to be paid to the Issuer’s account with the principal paying agent in US Dollars. In line with the Russian regulations, the relevant approval is conditional, among other things, MinFin being satisfied that the payments to the Noteholders holding Notes through the Russian custodians having been duly made and the issue of such approval is entirely at MinFin’s discretion. PJSC PhosAgro intends to pay the balance of interest to the Issuer’s account with the principal paying agent promptly upon the MinFin approval being granted which will be announced separately.