On April 22, Uzauto Motors, with the support of the Ministry of Finance, announced the upcoming issue of US$ 300 million worth of maiden international bonds and holding teleconferences with potential investors, the Ministry of Finance said in a statment.
The underwriting banks are Citi (USA), MUFG (Japan), Natixis (France) and Raiffeisen Bank International (Austria).
This transaction is the maiden international bonds issued by Uzbekistan corporate issuers.
Uzauto Motors received a "B +" rating (with stable outlook) from S&P and Fitch for the purpose of issuing international bonds, the Ministry of Finance noted.
A Global Investor Call and follow-up one-on-one conference calls are scheduled for April 22-27, to be attended by investors from a number of countries.
Based on the interest by international investors and the state of the financial markets, it is expected that in the coming days an order book will be opened and the interest rate on international bonds will be set.
In 2018-2020, the Ministry of Finance, Uzpromstroybank, National Bank and Ipoteka Bank issued international bonds and attracted US$ 2.65 billion from foreign investors.