Rosbank provided $50 million funding to joint-stock company PhosAgro-Cherepovets

    24 October

The deal between Rosbank and JSC PhosAgro-Cherepovets was structured as a loan facility for 3 years under bail of PJSC PhosAgro. Involved funds will be used to refinance debentures and finance its current activity.

«PhosAgro group of companies is one of the key clients of Societe Generale and Rosbank and we are glad that our long-term partnership comes to a new level. We are confident in the growth potential of the company and in fact that reached agreements will let JSC PhosAgro-Cherepovets continue the realization of its strategic plans», - said First Deputy CEO of Rosbank, Chief Country Officer for Russia, Societe Generale Corporate&Investment Banking Ilya Polyakov.

«We cherish our long-term relationship with Rosbank, the financial partner, which is open to the communication and is ready to support us in moving towards our goals. We appreciate Rosbank and Societe Generale team’s high level of professionalism and expertise, range of financial instruments and strategic focus on the business development in Russia and also on supporting Russian companies abroad», - said PhosAgro Financial Director Alexander Sharabaiko.

Rosbank and PhosArgo group of companies, one of the world’s leading manufacturers of phosphorus-containing fertilizers, have been cooperating since 2013. During this period Societe Generale financial group, the structure of which includes Rosbank, acted as one of the organizers of Eurobond placement for the amount of $500 million. Besides, in 2016 Rosbank acted as a coordinating authorized lead organizer and a passport bank in the transaction for attracting a pre-export financing from a syndicate of international banks in the total amount of $250 million.

PhosArgo group of companies includes JSC PhosAgro-Cherepovets, JSC Apatit, JSC Metahim, OJSC PhosAgro-Trans, OJSC PhosAgro-Region and Y. V. Samoilov Insectofungicides Scientific Research Institute (NIUIF). The company is a major European manufacturer of phosphorous raw materials, a major manufacturer of a high-grade phosphoric raw-materials and the world’s second largest producer of ammophos and diammonium phosphate.