Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading producers of phosphate-based fertilizers, has successfully completed the book build for an issue of bonds denominated in US dollars with settlement in Russian roubles.
The total volume of the BO-02-03 series bonds is USD 250 million, with a maturity period of 2.5 years. The bonds have a fixed coupon rate of 7.50% per annum, with payments to be made on a monthly basis.
Strong demand from investors enabled the Company to revise the initial coupon guidance downwards three times, by a total of 150 bps, while the final placement volume increased in rouble terms from the equivalent of USD 200 million to USD 250 million.
As a result of the book-building process, the issue achieved the lowest coupon rate among all foreign currency–denominated bond placements on the Russian primary market since the start of 2025.
Expert RA has assigned the bond issue its expected highest-possible credit rating of ruAAA(EXP).
The placement of the BO-02-03 series bonds is scheduled for 1 April 2025 on Moscow Exchange. Gazprombank will act as the bookrunner and placement agent.
The total volume of the BO-02-03 series bonds is USD 250 million, with a maturity period of 2.5 years. The bonds have a fixed coupon rate of 7.50% per annum, with payments to be made on a monthly basis.
Strong demand from investors enabled the Company to revise the initial coupon guidance downwards three times, by a total of 150 bps, while the final placement volume increased in rouble terms from the equivalent of USD 200 million to USD 250 million.
As a result of the book-building process, the issue achieved the lowest coupon rate among all foreign currency–denominated bond placements on the Russian primary market since the start of 2025.
Expert RA has assigned the bond issue its expected highest-possible credit rating of ruAAA(EXP).
The placement of the BO-02-03 series bonds is scheduled for 1 April 2025 on Moscow Exchange. Gazprombank will act as the bookrunner and placement agent.