Uzbekistan to issue new 10-year Eurobonds

Uzbekistan to issue new 10-year Eurobonds

BAKU, Azerbaijan, Nov. 17

By Klavdiya Romakayeva - Trend:

Uzbekistan announced plans to place 10-year Eurobonds on the foreign market on the London Stock Exchange, Trend reports referring to the Ministry of Finance of Uzbekistan.

Requests for the proposal have been sent to international investment banks and law firms and the following underwriting banks, joint bookrunners and legal advisers have been competitively selected:

- underwriting bank - Citi (USA), J. P. Morgan Сhase (USA), Societe Generale (France), VTB Capital (Russia) and Gazprombank (Russia);

- legal consultant - White & Case LLP (Great Britain).

It is planned to hold a teleconference as part of the road show with international investors, which is attended by international investors from countries such as the United States, Great Britain, Germany, France, Denmark and Switzerland.

The Ministry of Finance will take a decision on the issue of sovereign Eurobonds based on the situation in the world financial markets on November 19.

Deputy Minister of Finance Akhadbek Khaidarov at the end of November 2019 reported that in 2020 Uzbekistan could re-issue state Eurobonds in the amount of at least $500 million.

Uzbekistan placed the first in its history 5- and 10-year Eurobonds totaling $1 billion in February last year.

The placement also took place on the London Stock Exchange. The Ministry of Finance noted that then, after the opening of trading, the volume of orders (demand) exceeded $8.5 billion, while Uzbekistan placed no more than $1 billion.

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Follow the author on Twitter: @romakayeva

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