Bips & Pieces

PhosAgro Picks Seven Bookrunners on Russia’s First Corporate Debt Deal of 2020

The fertilizer giant is roadshowing for a USD-denominated LPN that will go towards refinancing USD150mn Eurobond maturing next year.

Jan 14, 2020 // 2:00PM

BofA Securities, Citi, Gazprombank, J.P. Morgan, Renaissance Capital, Sberbank CIB and VTB Capital were mandated by PJSC PhosAgro, one of the world’s leading producers of phosphate-based fertilisers, to organise a series of fixed income investor meetings in London and the US commencing this week.

A Reg S/144A senior unsecured USD-denominated benchmark-size Loan Participation Note with a tenor between 5 and 7 years may follow as early as on 15 January 2020, subject to market conditions, according to a person close to the transaction.

PJSC PhosAgro has also announced a capped Tender Offer for its outstanding USD Notes due 2021, with the early tender deadline set on 23 January 2020 and expiration deadline scheduled on 6 February 2020.

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