Another Eurobond of the Bank of Uzbekistan was successfully placed on the London Stock Exchange

The delegation of the joint-stock company The National Bank successfully carried out another issue on the London Stock Exchange, the correspondent of ‘‘Dunyo’’ news agency reports.

In particular, bonds in the equivalent of 418 million US dollars were placed on the international capital market in two tranches:

– bonds in the amount of 300 million US dollars for a period of 5 years with a coupon rate of 7.2%;

– bonds in the amount of 1.5 trillion soums for a period of 3 years with a coupon rate of 17.95%.

Such leading international financial institutions and law firms as ‘‘Standard Chartered’’, ‘‘J.P. Morgan’’, ‘‘Citi’’, ‘‘Societe Generale’’, ‘‘Natixis’’, ‘‘Mashreqbank’’, ‘‘ADCB’’, ‘‘OIB’’, ‘‘Commerzbank’’, ‘‘Dentons’’, ‘‘Kosta Legal’’, ‘‘Deloitte & Touche’’ , and others were involved in the process of issuing Eurobonds.

The National Bank’s bonds attracted interest from more than 140 international institutional investors, with the total volume of submitted applications exceeding US$1.3 billion.

Thanks to favorable market conditions and growing demand for securities of Uzbek companies, the bank managed to reduce coupon rates compared to last year’s issue.

The decrease in the total cost of the bonds reflected the growing confidence of the global investment community in the reforms carried out under the leadership of the President of Uzbekistan Shavkat Mirziyoyev.