PhosAgro may issue Eurobonds

As PhosAgro Deputy CEO for finance and international projects, Alexander Sharabaika reports, by November 2021, PhosAgro may decide to place Eurobonds of $500 million to refinance its debt of $350 million.

According to his statement, the company is also concerning the possibility of debt refinancing by raising a bank syndicated loan.

“We are considering several options of debt refinancing, one of which is the placement of Eurobonds. We will make a decision based on price trends,” said Alexander Sharabaika, noting that a decision on Eurobonds can be made before November this year.

Alexander Sharabaika explained that the company needs to refinance $350 million, while the minimum placement amount is $500 million.

“We don’t need significant influence, therefore it’s unlikely that the placement amount may be higher,” he said.

Source: TASS