Dentons has advised PhosAgro on its USD 500 million issuance of seven-year Rule 144A/Regulation S 2.6% loan participation notes due 2028.
BofA Securities, Citi, Gazprombank, J.P. Morgan, RBI, Renaissance Capital, SberCIB, UniCredit, and VTB Capital acted as the joint bookrunners.
PhosAgro is a Russian phosphate-based fertilizer producer. According to Dentons, the transaction is “the first-ever seven-year eurobond issue for PhosAgro, and the issue has the lowest coupon rate to date for a Russian non-state-owned corporate borrower issuing international debt securities with the same tenor.” According to the firm, “PhosAgro plans to use the proceeds from the offering for general corporate purposes, and to refinance some of its indebtedness.”
Dentons’ team included Moscow-based Partner Tamer Amara and Counsel Filipp Petyukov and London-based Partner Cameron Half.
Dentons did not reply to our inquiry on the matter.
