PhosAgro says Citibank transfers coupon to Eurobond holders
MOSCOW, Jun 16 (PRIME) -- The London branch of Citibank has transferred a U.S. $9.873 million coupon payment to the holders of $500 million 2023 Eurobonds of Russian fertilizer producer PhosAgro, the company said in a statement late on Wednesday.
The company made the payment on April 6, and issued an order to the agent bank to transfer the coupon to the bondholders on April 20, but the bank failed to comply with the order on time.
Since then PhosAgro had been doing everything possible to push the payment through and had provided all necessary information. The company confirms liabilities connected to the Eurobonds that mature in 2023, 2025, and 2028, and has enough money to service the debt, PhosAgro said.