BAKU, Azerbaijan, Apr. 27
By Klavdiya Romakayeva - Trend:
The initial interest rate on international bonds of UzAuto Motors JSC has been set at about 5.375 percent, Trend reports with reference to the Ministry of Finance of Uzbekistan.
On April 22, 2021, UzAuto Motors JSC, with the support of the Ministry of Finance of Uzbekistan, announced to the participants of the world financial market the forthcoming issue of its first international bonds in the amount of $300 million.
It was reported that the bonds issued by UzAuto Motors will circulate for five years.
According to the ministry, the order book opened today at 08:15 London time. At the moment, applications from investors are being accepted.
It is expected that today the process of determining the coupon yield on the debut international bonds of UzAuto Motors will be completed.
It was noted that the underwriting bank is organized by leading international banks such as Citi (the US), MUFG (Japan), Natixis (France) and Raiffeisen Bank International (Austria).
UzAuto Motors is engaged in the production, assembly and sale of cars under the Chevrolet and Ravon brands in Uzbekistan.
Earlier, S&P and Fitch international rating agencies have given a stable outlook ("B +") for the bonds of the Uzbek company.
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