The Ministry of Finance places eurobonds for US$555 million and 2 trillion soums
Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Finance of Uzbekistan has placed two tranches of international bonds (eurobonds) in the amount of US$555 million and 2 trillion soums.
According to the Ministry of Finance, the first tranche in US dollars was placed for a period of 10 years and the second tranche in Uzbek soums - for a period of 3 years. Initial interest rates on the London Stock Exchange were around 4.25% and 15.25%, respectively.
Demand for Uzbekistan's Eurobonds exceeded US$3.8 billion for the first tranche and 5 trillion soums for the second tranche. As a result, interest rates fell.
Following the auction, Uzbekistan placed eurobonds in US dollars in the amount of US$555 million and 2 trillion soums. The profitability of the first tranche was estimated at 3.7%, and the second tranche - at 14.5%.
Uzbekistan placed debut eurobonds in the amount of US$1 billion in 2019. The issue was divided into two tranches of US$500 million each with a maturity of five (in 2024) and ten years (in 2029).