Baku, Azerbaijan, June 30
By Fikret Dolukhanov – Trend:
The International Finance Corporation (IFC) placed the third issue of Samarkand Bonds, nominated in Uzbek soums, on the London Stock Exchange (LSE) on June 26, the Central Bank of Uzbekistan stated.
The total volume of the issue amounted to 80 billion soums with maturity period of 2 years and a coupon rate of 9.45 percent per annum.
The bonds sale agreements are concluded with three European asset management companies. The Citigroup Global Markets brokerage company will be in charge of the transaction. Information on the terms of the bonds is posted on the Bloomberg terminal.
The first issuance of Samarkand Bonds was carried out on May 18 at the LSE in the amount of 80 billion soums with a maturity of 2 years and a coupon rate of 9.5 percent. The second issuance was placed on the exchange on May 29 with the same conditions.
The International Finance Corporation is a global development institution that focuses on the private sector in countries with developing and transition economies. IFC practices the issuance of bonds in the national currencies of those countries where its projects are being implemented. Due to the high credit rating of the corporation (AAA), these securities are successfully placed among foreign investors in the international financial market.
IFC bonds nominated in Uzbek soums are sold for foreign currency, the proceeds are directed for opening a credit line to finance small business projects in Uzbekistan.
(7871.66 soums = $1 on June 30)
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