PhosAgro Places Debut USD 500mln 5-yr Eurobond at 4.204%

OJSC PHOSAGRO - PhosAgro Places Debut USD 500mln 5-yr Eurobond at 4.204%

PR Newswire

London, February 7

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PhosAgro Places Debut USD500 mln 5-year Eurobond at 4.204%

Moscow - PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leadingglobal vertically integrated phosphate-based fertilizer producer, announces thesuccessful pricing of its debut USD 500 million 5-year Eurobond with a couponrate of 4.204%, which will be listed on the Irish Stock Exchange.

Proceeds from the issue will be used for further consolidation of the Company'sstakes in its key production subsidiaries and to refinance short-termfinancing.

The final order book was more than five times oversubscribed, withparticipation from a broad range of institutional investors, banks, assetmanagement companies and funds from Europe, the United States, Asia and Russia.

The credit ratings assigned to PhosAgro's Eurobond offering were Baa3 fromMoody's and BB+ from Fitch Ratings, both in line with the Company's corporatecredit ratings.

Citi, Raiffeisen Bank International, Sberbank CIB and VTB Capital acted asjoint lead managers for the placement.

PhosAgro CEO Maxim Volkov said: "I am very pleased that our debut bond issuewas met with such a high level of interest from fixed income investors. Ibelieve that investors valued our strong financial profile, supported by ourconservative financing policy, which has kept debt levels low."

For further information please contact:

OJSC PhosAgro

PhosAgro is a leading global vertically integrated phosphate-based fertiliserproducer. The Group focuses on the production of phosphate-based fertilisers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilisers.

The Group is the largest phosphate-based fertiliser producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also a leading producer of MCP feed phosphates in Europe, and theonly producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore, representing over 75 years of production. TheGroup also controls substantial Al2O3 resources and has 41% of Russia's rareearth oxides resources according to the G.P. Luzin Institute of EconomicProblems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,2010).

The Group's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertiliser and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia. PhosAgro's2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The Сompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.

For further information on PhosAgro please visit: www.PhosAgro.com

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