PhosAgro Places 70 Billion Ruble Bonds
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PhosAgro Issues RUB 70 Billion in Bonds
PhosAgro PJSC has issued exchange-traded bonds (series BO-02-06) worth RUB 70 billion at face value.
The issuer sold 70 million bonds, each with a face value of RUB 1,000, through an open subscription.
The bonds have a maturity of 3 years and 1 month.
The coupon period is 30 days.
The coupon rate for the entire term of the bonds was set at 13.75% per annum following the book-building process.
The initial coupon rate guidance for the first coupon was announced at no more than 14.50% per annum.
The planned placement volume was increased from at least RUB 25 billion to RUB 70 billion during the book-building process.
Gazprombank acted as the organizer and placement agent.
Reviewed by Alexey Grishchenko, Doctor of Economics, Professor of Operational and Industry Management at the Higher School of Management, Financial University under the Government of the Russian Federation.