Saturday, 31, July, 2021

The Uzbek Ministry of Finance placed a dual-tranche sovereign eurobonds worth US$ 870 million denominated both in U.S. dollars and Uzbek soums on the London Stock Exchange, the Ministry said.

Initially, the organizers targeted between 4.25-4.375% for the USD-denominated tranche and about 14.5% for the soum-denominated tranche, but during the orders it was cut.

After the opening of the order, the demand for the U.S. dollar-denominated Eurobonds surpassed US$ 2.25 billion, and for the soum-denominated - over US$ 350 million.

The 635 million U.S. dollar worth of Eurobonds have 3.9 yield and 10-year maturity, while the 235 million U.S. dollar worth of Uzbek soum-denominated bonds to mature in 3 years and will yield 14.00%, the ministry added,

The dollar bonds were distributed among investors from the USA (56%), the UK (23%), while the soum-denominated – by investors based in UK (43%), and several other European countries (24%), with, the majority of these investors being investment funds (92%).

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