BAKU, Azerbaijan, Nov. 13
By Klavdiya Romakayeva - Trend:
Uzbekistan’s Ipoteka Bank has placed 5-year Eurobonds in the amount of $300 million on the London Stock Exchange, becoming a full participant in the international capital market, Trend reports referring to the bank.
Ipoteka Bank's original interest rate on November 12 based on advice from financial advisors based on investor proposals was set at 5.625 percent and the order book was announced open at 9:00 London time.
The volume of orders amounted to $300 million per hour, thus the planned release was fully completed.
The volume of bids at the auction exceeded $500 million, which allowed the issuer to reduce the initial interest rate.
The final interest rate and coupon were lowered by about 0.125 percent to 5.50 percent at 15:00 London time.
Eurobonds were distributed among investors from Switzerland (22 percent), Great Britain (20 percent), the US (14 percent), Germany (18 percent), and several other countries in Europe and Asia (26 percent).
The successful placement of Eurobonds by the bank testifies to a positive assessment of the reforms carried out by investors in the Republic of Uzbekistan, including in the banking sector.
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