Translation. Region: Russian Federation –
Source: Phosagro – Phosagro – An important disclaimer is at the bottom of this article.
Moscow. March 3, 2026. PhosAgro Group (Moscow Exchange, LSE: PHOR), a Russian vertically integrated company and one of the world's leading producers of phosphate-based fertilizers, successfully placed a yuan-denominated bond issue.
The volume of the Series BO-02-05 bond issue was 1.5 billion yuan. The bonds bear a fixed coupon rate of 8.00% per annum, with a coupon period of 91 days. The maturity of the issue is 3.2 years.
Expert RA rating agency assigned the issue the highest possible credit rating of ruAAA.
During the bookbuilding process, significant demand was generated from banks, institutional and private investors, which allowed the issue to be placed at the lower end of the marketing coupon rate range.
Trading of the bond issue on the Moscow Exchange began on March 3, 2026. Gazprombank is the organizer and placement agent.
"A year later, PhosAgro returned to the Russian market with a yuan-denominated issue. Compared to last year's deal, the volume increased by 50%, and the coupon rate decreased by almost 2.5 percentage points. Despite market volatility caused by rising rates on quasi-currency instruments, the placement was successful and demonstrated investor confidence in the company's credit quality and a willingness to invest long-term in yuan bonds," commented Denis Shulakov, First Vice President of Gazprombank and Head of Capital Markets.
"We are grateful to investors for their interest in our third yuan bond issue amid challenging conditions in the quasi-currency market. Strong demand from market participants confirms confidence in PhosAgro's credit quality and the effectiveness of our financial strategy. This placement, with an increased volume and reduced coupon rate, was made possible thanks to the company's stable position and consistent efforts to optimize its borrowing structure. We will continue to strengthen our position in the debt market, offering investors high-quality instruments and confirming our reputation as a reliable issuer," commented Alexander Sharabayko, Deputy CEO for Finance and International Projects at PhosAgro.
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