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Dentons Advises PhosAgro on USD 500 Million Eurobond Issuance

Dentons Advises PhosAgro on USD 500 Million Eurobond Issuance

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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.

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Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Dentons is one of the leading law firms in CEE/CIS, with offices in Warsaw, Prague, Budapest, Moscow, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.

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