EuroChem unveils second successful bond issue in a month
Zug, Switzerland, April 15, 2019 – EuroChem Group AG (“EuroChem” or the “Group”), a leading global fertilizer company, today announces a second return to the public debt markets in the space of a month with the successful issue of exchange-traded bonds to the value of 19 billion rubles (US$293 million) by its Russian subsidiary MCC EuroChem.
The coupon rate for the three-year RUB bond issue was set at 8.55%. The book, with 65 bids, was more than 1.5 times oversubscribed, requiring price guidance to be revised four times during book-building. As a result, the Group almost doubled the issue amount.
“This is the Group’s second successful transaction in the debt capital markets in less than a month,” said Kuzma Marchuk, EuroChem Group Acting Chief Executive Officer and Chief Financial Officer. “The bond issues have enabled us to refinance 2019-2020 maturities well ahead of their expiry date, in line with our conservative financial policy.”
The offering was organized by PJSC FC Otkritie bank, PJSC ROSBANK and JSC Sberbank CIB. BK Region and ACB Peresvet were the co-managers of the offering. Settlement agent was PJSC ROSBANK.
About EuroChem Group AG
EuroChem is a leading global producer of nitrogen, phosphate and potash fertilizers, as well as certain industrial and mining products. The Group is vertically integrated with activities spanning mining to fertilizer production, logistics, and distribution. EuroChem began potash production at its Usolskiy mine in early 2018, and continues to develop a second greenfield site at VolgaKaliy in Russia. Headquartered in Zug, Switzerland, the Group operates production facilities in Europe, Asia and the CIS, employing more than 26,000 people.
For more information, please visit eurochem-corporate-qa1b64.azurewebsites.net or contact:
Head of Communications EuroChem Group AG
+44 (0) 20 3727 1000
Head of Public Relations MCC EuroChem
Head of Investor Relations
EuroChem Group AG