12 May 2017 18:17

PhosAgro reviewing options to refinance 2018 Eurobonds, not ruling out new bond issue

MOSCOW. May 12 (Interfax) - PhosAgro is not ruling out raising new bonds to refinance $500 million in Eurobonds maturing in 2018, PhosAgro CEO Andrei Guryev told journalists.

He said that if the company decides to refinance the Eurobonds with new debt, it could consider both a new issue of debt securities as well as a bank loan.

Guryev also said that PhosAgro's management expected strong Q1 figures and did not plan to change its policy of paying out dividends each quarter.

PhosAgro placed a $500 million Eurobond issue in April with yield at 3.95%. The company raised the funds to refinance short-term debt.

PhosAgro currently has $500 million in debut Eurobonds in circulation with yield at 4.204% per annum and which mature at the start of 2018.