FX / eurobonds · RU000A10FUM0

Rusbond Fertilizers 001P-01

RU000A10FUM0

Fixed Put 02.28

8.97%

yield to worst (YTW)

Price 100.40% 1 008 CNY with accrued interest

Coupon 8.95% 12×/yr

Put/call 07.02.2028 4.7 y to maturity

Duration 1.2 y price −1.1% per +1 pp of rate

Premium over replacement bonds +216 bp OFZ in CNY

Credit risk AA-(RU) ACRA · low

Price and premium over OFZhow the bond has traded and how much it pays over OFZ

Bond price, % of par

Incomewhat your investment will earn and when payments arrive

Yield calculator

Investment amount, CNY Or quantity, units Broker fee, % Purchase price, % Yield to put, % Premium over replacement bonds, bp

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Effective YTM under the MOEX convention (ACT/365). The calculation runs to the put (07.02.2028) - redemption at par on the put date; coupons after the put have not been announced yet. The fair price discounts the cash flows at the yield of a comparable credit class (a reference point).

Cash flows

Date	Coupon, CNY	Principal, CNY	Total, CNY

Coupon payments and principal repayment by date for one bond. On the chart, each bar is a year's total: the coupon is paid 12 times a year, and the bar adds up all of that year's payments. Coupons from 03.03.2028 have not been announced and are shown at the current rate as a forecast.

Issuer credit qualitycredit risk and the issuer's debt on the exchange

Credit risk

Low

issuer rating AA- · ACRA

Default probability≈ 0.07% a year

Issuer debt on the exchange8.45 bn ₽ the only issue

Of which in foreign currency8.45 bn ₽ 1 issue · CNY

Risk-adjusted yield

8.92%

without the adjustment — 8.97%: expected default losses reduce the yield by 5 bp (1 bp = 0.01 pp)

The probability of default is 0.07% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.

What the spread over replacement bonds is made of

Expected loss 5 bp Exit cost 23 bp Risk premium 188 bp

Peerssimilar bonds of other issuers

Similar issues

Other issuers' bonds with a fixed coupon, close in maturity and rating

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matures 06.2028 · AA-

8.49%

METALLOINVEST 001P-02

Cherkizovo Group BO-002P-01

matures 06.2027 · AA-

9.02%

Compare with another bond

Whether to swap Rusbond Fertilizers 001P-01 for another issue - we compare yield (including after tax), credit risk, duration and liquidity

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Rusbond Fertilizers 001P-01 and peers: yield × term

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Historywhat the bond returned in the past

Issue parametersterms, buying now, yields and spreads

Terms

Coupon8.95% a year · 12 payments/yr

Coupon, CNY7.36

Par1 000 CNY

Maturity16.07.2031 · 4.7 y

Put/call07.02.2028

Issue

Listing level3

Issue size700.0 mn CNY

Lot1 units

Buying now

Order book99.84 / 100.40%spread 0.556% (≈46 bp of yield)

Cost of entry≈ 278 ₽ per 100,000 ₽ · quote 27.10 20:00

Accrued interest, CNY4.41 as of 28.10.2026

Average daily turnover7.6 mn ₽

Trades today20 · turnover 556.1 k ₽

Yields

Current yield8.91%

Simple yield8.57%

Yield to maturity if the 8.95% rate holds9.22%

Spreads and valuation

MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).