Wed 11 2020 11:52:22

Tashkent, Uzbekistan ( -- On 17 November 2020, the Ministry of Finance of the Republic of Uzbekistan announced the placement of sovereign international bonds on the London Stock Exchange. This was reported by the press service of the Ministry of Finance. The volume of the issue has not been disclosed.

In order to effectively organize the placement of sovereign international bonds, requests for proposals were sent to international investment banks and law firms, and the following underwriting banks, joint bookrunners and legal advisers were selected on a competitive basis:

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).

In addition, the Ministry of Finance took all the necessary measures to issue the next sovereign Eurobonds, including the preparation of a prospectus and other legal documents.

As part of today’s Road-show, it is planned to hold a teleconference with international investors (Global Investor Call), which is attended by international investors from countries such as the USA, UK, Germany, France, Denmark and Switzerland. Also, on 17-18 November, teleconferences with international investors will be held in the one-on-one format.

During the teleconference, international investors will be informed about the country’s current macroeconomic indicators, measures taken to ensure stability in a pandemic, systemic and institutional reforms aimed at long-term economic development, prospects for reforming and privatizing state-owned enterprises and the banking sector.

On 19 November 2020, a decision will be made on the issue of sovereign Eurobonds based on the situation in the world financial markets.

In 2019, Uzbekistan placed Eurobonds in the amount of US$1 billion. The issue was divided into two tranches of US$500 million each with a maturity of five (in 2024) and ten years (in 2029).


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