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# PhosAgro received decent profit from its first rouble bonds

Publication Date: 10.05.2023, 16:00

Investors have shown increased interest in them.

PhosAgro (Moscow Exchange, LSE: PHOR), a Russian vertically integrated company and one of the world’s leading producers of phosphorus fertilizers, has successfully closed the order book for the debut issue of ruble-denominated exchange-traded bonds in the amount of 20 billion rubles ($258.4 million).

Three-year bonds with a par value of 1 thousand rubles (about $13) were placed on the Moscow Exchange. A coupon yield of 9.4% per annum on them will be paid every six months. The bonds are included in the first level of the list of securities admitted to trading on the Moscow Exchange.

Investors showed an increased interest in placing the company’s bonds in rubles. The book received about 50 applications with a total volume of over 40 billion rubles ($516.8 million) from management companies, banks, insurance and investment companies, as well as private investors.

“We are pleased with the result obtained, having received affordable financing from the market on the best terms for the implementation of development programs and refinancing of the loan portfolio,” said Mikhail Rybnikov, CEO of PhosAgro.

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