PhosAgro Redeems Debut Eurobond

PJSC PHOSAGRO - PhosAgro Redeems Debut Eurobond

PR Newswire

London, February 13

PhosAgro Redeems Debut Eurobond

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.”

Notes to Editors

PhosAgro (www.phosagro.ru) is one of the world’s leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of not less than 39% (according to IFA, Fertecon and CRU).

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock (with a P2O5 content of not less than 37%) worldwide and the third largest MAP/DAP producer in the world (excluding China), according to IFA. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia. PhosAgro is Russia’s only producer of nepheline concentrate.

PhosAgro’s main products include phosphate rock, 39 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.