OJSC PHOSAGRO: PhosAgro Places Debut USD 500mln 5-yr Eurobond at 4.204%
OJSC PHOSAGRO: PhosAgro Places Debut USD 500mln 5-yr Eurobond at 4.204% NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS OR IN AUSTRALIA, CANADA, JAPAN, THE RUSSIAN FEDERATION OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.
For Immediate Release 07 February 2013
PhosAgro Places Debut USD500 mln 5-year Eurobond at 4.204%
Moscow - PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces the successful pricing of its debut USD 500 million 5-year Eurobond with a coupon rate 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's stakes in its key production subsidiaries and to refinance short-term financing.
The final order book was more than five times oversubscribed, with participation from a broad range of institutional investors, banks, asset management companies and funds from Europe, the United States, Asia and Russia.
The credit ratings assigned to PhosAgro's Eurobond offering were Baa3 from Moody's and BB+ from Fitch Ratings, both in line with the Company's corporate credit ratings.
Citi, Raiffeisen Bank International, Sberbank CIB and VTB Capital acted as joint lead managers for the placement.
PhosAgro CEO Maxim Volkov said: "I am very pleased that our debut bond issue was met with such a high level of interest from fixed income investors. I believe that investors valued our strong financial profile, supported by our conservative financing policy, which has kept debt levels low."
For further information please contact:
+7 495 231 2747 Irina Evstigneeva, Head of Corporate Finance and Investor Relations Timur Belov, Press Officer
Sam VanDerlip email@example.com +44 (0) 20 7920 2356
Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (with P2O5 content of not less than 39 percent), as well as ammonia and nitrogen-based fertilisers.
The Group is the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources and has 41% of Russia's rare earth oxides resources according to the G.P. Luzin Institute of Economic Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences, 2010).
The Group's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. PhosAgro's 2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The С ompany'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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