PhosAgro will change the mechanism of its Eurobonds payments

PhosAgro received the consent of the holders of all issues of its Eurobonds to change the payment mechanism and terms of servicing their securities.

These changes are mainly aimed at reducing the risks of servicing Eurobonds. In particular, the new rules provide that payments can be made through the primary paying agent and directly to bondholders.

“The company would like to thank Eurobond holders for their active participation in the consent procedure. PhosAgro is committed to continuing taking possible actions in the interests of Eurobond holders to ensure that its debt is properly serviced,” the press-release of PhosAgro says.