Uzbek bank starts paying off revenues on corporate bonds
Tashkent, Uzbekistan, Jan. 24
By Mamed Dashdemirov – Trend:
The National Bank for Foreign Economic Activity of Uzbekistan started payment of income on corporate bonds for the fourth quarter of 2017 at a rate of 3.25 percent to their face value, which amounts to one million soums, the bank’s press service told Trend.
Revenues from corporate securities issued by commercial banks of Uzbekistan, according to the requirement of the Central Bank, are equal to the refinancing rate minus one percent.
They amounted to 3.25 percent for the third and fourth quarters of 2017, and 2 percent for the first and second quarters of 2017, because the discount rate was increased from 9 percent to 14 percent in late June 2017.
As many as 100,000 corporate bonds of this issue with an aggregate nominal value of 100 billion soums were issued by the National Bank for Foreign Economic Activity of Uzbekistan in October 2010 with a circulation period of 10 years.
This became the biggest issue of securities of this type in Uzbekistan. At the same time, the National Bank for Foreign Economic Activity of Uzbekistan can repay up to 20 percent of bonds of this issue ahead of schedule.
The National Bank for Foreign Economic Activity of Uzbekistan was established in 1991.
(8,163.93 soums = $1 on Jan. 24)