Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that it has redeemed its debut 5-year, USD 500 million Eurobond issued in February 2013 with a 4.204% coupon. The redemption was financed by the Company’s new 5.25-year, USD 500 million Eurobond that was recently placed with a coupon of 3.949%, which is among the lowest rates achieved by Russian issuers.
PhosAgro CEO Andrey Guryev said: “This placement represents a new benchmark for the Company, enabling us to lower the average interest rate and significantly improve the structure of our debt portfolio. We saw strong demand from international investors during the deal, with over 90% of the orders coming from American and European investors. We were happy to see major international funds and banks participating in this placement.”