Press Releases

All news


Raiffeisenbank and PhosAgro-Cherepovets Sign USD 150 million Three-Year Credit Agreement

Raiffeisenbank and PhosAgro (PhosAgro or the Company) (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertiliser producer, announce a new credit line for PhosAgro-Cherepovets.

The USD 150 million credit line has a three-year term.

The borrowed funds will be used for PhosAgro-Cherepovets working capital, general corporate purposes, and refinancing of other loans.

Raiffeisenbank Management Board Member and Head of Corporate Banking Oksana Panchenko said: Raiffeisenbank has for several years been working with PhosAgro and its subsidiaries. This credit line confirms our confidence that we will continue to work with the Company. I have no doubt that the borrowed funds will help our client implement its plans.

PhosAgro CEO Maxim Volkov said: With this loan agreement we have made further progress in the optimisation of our loan portfolio by replacing more expensive borrowings and by achieving a more balanced medium term repayment schedule. Our goal is to lower our overall borrowing costs and to reduce gross debt by over USD 250 million by the end of the second quarter of 2013.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 12th among the Russian banks in terms of assets, based on Q1 2013 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the worlds financial centres and in Asia, the groups further geographical area of focus. In total, more than 59,000 employees serve some 14.2 million customers through more than 3,000 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBIs shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group, and serves as the group head office of the entire RZB Group, including RBI.

For further information please contact:

OJSC PhosAgro
+7 495 232-96-89
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer
Sam VanDerlip
+44 (0) 7554 993 032

Notes to Editors

PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (with P2O5 content of not less than 39 percent), as well as ammonia and nitrogen-based fertilisers.

The Group is the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources and has 41% of Russias rare earth oxides resources according to the G.P. Luzin Institute of Economic Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences, 2010).

The Groups mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. PhosAgros 2012 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.1 bln. The ompanys net debt/EBITDA ratio was 0.77 at 31 December 2012.

For further information on PhosAgro please visit:


Press enter

Tel.: +7 495 721-36-17


Marketing department


Information center

Tel.: +7 495 721-91-00

In English
+7 495 721-91-00
For Life
For Business
For Life
For Business