PhosAgro Plc Issues BO-03-02 and BO-03-03 Exchange-Traded Bonds

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PhosAgro Places BO-03-02 and BO-03-03 Exchange-Traded Bonds

PhosAgro, a leading global fertilizer company, has successfully placed two series of exchange-traded bonds: BO-03-02 and BO-03-03. The issuer sold 170,000 BO-03-02 bonds with a face value of $1,000 each and 1.8 million BO-03-03 bonds with a face value of 1,000 Chinese yuan each through an open subscription.

BO-03-02 bonds have a circulation period of 1.75 years and a coupon period of 91 days.

BO-03-03 bonds have a circulation period of 2.3 years. The first eight coupons have a duration of 91 days, while the ninth coupon has a duration of 111 days.

The coupon rate for the entire circulation period was set at 8.95% per annum following the collection of bids.

Gazprombank acted as the organizer and placement agent for the bond issue.

Overview provided by Alexei Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.