Zug, October 14, 2016 - EuroChem Group AG, one of the world's leading agrochemical companies, announced that it had completed a tender offer for its outstanding Eurobonds due 2017 and a simultaneous new issue to finance the purchase of notes under the tender offer.
Efficient tender structure and process provided bondholders with greater certainty around the new issue allocation and stimulated strong tender participation, with 57% of the notes tendered. With a yield of 3.80%, the new benchmark US$500 million Eurobonds issue matures in April 2020.
ING acted as one of Joint Lead Managers and Bookrunners for the deal.
EuroChem is a leading global agrochemical company producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production and distribution facilities in Belgium, China, Kazakhstan, Lithuania, the United States and Russia and employs more than 23,400 people globally.