PhosAgro redeemed its Eurobonds for $500M

PhosAgro, a Russian vertically integrated company and one of the world’s leading producers of phosphate-based fertilizers, has redeemed five-year Eurobonds for $500 million with a coupon rate of 3.949%.

Payments to close the bonded loan to international and Russian investors were separated, which was preliminarily approved by the holders of all three Eurobond issues.

The redemption of Eurobonds was partly funded through PhosAgro’s recent debuts on the Moscow Exchange, which brought the company 20 billion rubles (about $250 million), and the issuance of bonds worth 2 billion yuan (almost $283 million), which aroused increased interest from investors.

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