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PhosAgro PAOAnnouncement

13/02/2018 13:15

For Immediate Release   13 February 2018 

PhosAgro Redeems Debut Eurobond

Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE:
PHOR), one of the world’s leading vertically integrated phosphate-based
fertilizer producers, announces that it has redeemed its debut 5-year, USD 500
million Eurobond issued in February 2013 with a 4.204% coupon. The redemption
was financed by the Company’s new 5.25-year, USD 500 million Eurobond that
was recently placed with a coupon of 3.949%, which is among the lowest rates
achieved by Russian issuers.

PhosAgro CEO Andrey Guryev said: “This placement represents a new benchmark
for the Company, enabling us to lower the average interest rate and
significantly improve the structure of our debt portfolio. We saw strong
demand from international investors during the deal, with over 90% of the
orders coming from American and European investors. We were happy to see major
international funds and banks participating in this placement.”

Notes to Editors

PhosAgro (www.phosagro.ru) is one of the world’s leading vertically
integrated phosphate-based fertilizer producers in terms of production volumes
of phosphate-based fertilizers and high-grade phosphate rock with a P(2)O(5)
content of not less than 39% (according to IFA, Fertecon and CRU).

The Company is the largest phosphate-based fertilizer producer in Europe, the
largest producer of high-grade phosphate rock (with a P(2)O(5) content of not
less than 37%) worldwide and the third largest MAP/DAP producer in the world
(excluding China), according to IFA. PhosAgro is also one of the leading
producers of feed phosphates (MCP) in Europe, and the only producer in Russia.
PhosAgro is Russia’s only producer of nepheline concentrate.

PhosAgro’s main products include phosphate rock, 39 grades of fertilizers,
feed phosphates, ammonia, and sodium tripolyphosphate, which are used by
customers in 100 countries spanning all of the world’s inhabited continents.
The Company’s priority markets outside of Russia and the CIS are Latin
America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary
receipts (“GDRs”) for shares trade on the London Stock Exchange (under the
ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in
the MSCI Russia and MSCI Emerging Markets indexes.



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