Uzbekistan’s Ipoteka Bank to issue its first international bonds

Finance Materials 11 November 2020 11:44 (UTC +04:00)
Uzbekistan’s Ipoteka Bank to issue its first international bonds

BAKU, Azerbaijan, Nov. 11

By Klavdiya Romakayeva - Trend:

Ipoteka Bank JSCIB has announced the release of its first Eurobonds in the amount of $300 million, Trend reports referring to the Ministry of Finance of Uzbekistan.

The debut issue of Eurobonds is planned in cooperation with such internationally recognized underwriting banks as JP Morgan (USA), MUFG (Japan), Raiffeisen Bank International (Austria) and Societe Generale (France).

A Global Investor Call and individual meetings with investors are planned for the issuance of international bonds in the amount of $300 million until November 11 with the participation of the leadership of the Ministry of Finance and Ipoteka Bank.

At the end of October, Ipoteka Bank signed an agreement with Uzbekistan Mortgage Refinancing JSC on the allocation of a credit line without obligations.

As of September 1, the bank's loan portfolio amounted to 22.06 trillion soums ($2.13 billion). The share of problem loans decreased over this period to 544 billion soums ($52.5 million) (2.5 percent). The financial institution for 9M2020 increased its net profit to 394.5 billion soums ($38.1 billion).


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