PhosAgro Board of Directors Approves RUB-denominated Bond Programme
Decisions regarding the potential placement of individual issues under this bond programme are to be made by the Company’s CEO.
PhosAgro CEO Andrey Guryev said: “PhosAgro may use rouble bond placements if the Company is in need of additional financing and RUB-denominated bonds can be placed at lower rates than other forms of borrowing.”
As disclosed earlier, the Company intends to reduce its total debt by up to RUB 20 billion this year. PhosAgro also plans to refinance around USD 100 million with new debt from Nordea Bank, and up to RUB 10 billion of debt may be partially replaced by the issuance of RUB-denominated bonds.