Baku, Azerbaijan, June 27
By Fakhri Vakilov – Trend:
In the next two years, Uzbekistan may enter the top three among the countries of the CIS for issuing Eurobonds, Trend reports citing RIA Novosti.
Austrian Raiffeisen Bank International (RBI) and its Russian subsidiary Raiffeisenbank hold a banking summit in Tashkent. The delegation of the bank was headed by Axel Zummer, Director of the Department of Financial Institutions of RBI.
“On the horizon of one or two years, we can well see that by the number of new issues of Eurobonds, Uzbekistan will enter the top three of the CIS countries,” head of the department of financial institutions at Russian subsidiary of Raiffeisenbank, Anastasia Evstigneeva said.
She stated that Uzbekistan today is the most promising country in the debt capital market of the CIS.
Among the positive factors for the development of the Eurobond market, Evstigneeva noted the potential and rapid economic growth of Uzbekistan, as well as the desire of investors to get access to Uzbek bonds.
"This is the perfect combination for the dynamic development of this market," the bank representative added.
In February 2019, Uzbekistan issued debut Eurobonds with a maturity of five and ten years, with a combined volume of $1 billion and with a yield of 4.75 percent and 5.375 percent per annum, respectively. The issue is divided into two tranches of $ 500 million maturing in 2024 and 2029.
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