Phosagro, Novatek may start Eurobond road shows this week-sources

MOSCOW Mon Jan 28, 2013 4:20am EST

MOSCOW Jan 28 (Reuters) - Two Russian companies, fertilizer firm Phosagro and gas producer Novatek, may start road shows for possible Eurobond issues this week, four banking sources told Reuters on Monday.

"(Phosagro) Meetings with investors from Switzerland, London and the United States may start by the end of this week," one of the sources said.

The company has been mulling the issue since late last year, when the world's second-largest phosphate producer decided to not proceed with a share sale due to poor market conditions.

Phosagro, which previously targeted a Eurobond issue to raise between $400 million and $500 million, declined to comment.

Two other sources said Novatek, Russia's largest independent gas producer, also planned a rouble-denominated Eurobond road show between Jan. 29 and 30 in London and New York to test market appetite for a possible rouble-denominated issue.

Reuters could not reach Novatek for an immediate comment.