PhosAgro announced that it has successfully priced a USD 500 million five-year Eurobond issue with a coupon of 3.05%. The company priced the issue and settlement is expected to take place on 23 January 2020. PhosAgro recently completed a large-scale investment cycle, strengthening its position in both Russian and international markets, creating a solid base for long-term sustainable growth. Demand for the bonds at record low price guidance reached USD 2 billion with participation from a broad range of institutional investors, banks, asset management companies and funds from Russia, Europe, the United States and Asia. Upon completion of the transaction, the funds will be used to optimize PhosAgro's credit portfolio while maintaining net debt/EBITDA at a comfortable level. The credit ratings assigned to PhosAgro's latest Eurobond issue are BBB- from Standard & Poor's, Baa3 from Moody's and BBB- (EXP) from Fitch Ratings, which corresponds to the Company's corporate credit ratings.