Uzbekistan plans next issue of sovereign Eurobonds

Source: Xinhua| 2020-11-17 23:08:29|Editor: huaxia

TASHKENT, Nov. 17 (Xinhua) -- Uzbekistan plans to issue 10-year sovereign international bonds on the London Stock Exchange in Britain this week, the Central Asian country said on Tuesday.

Local media reported that the target of the planned Eurobond issue is 1 billion U.S. dollars, although the finance ministry did not reveal the volume of the issue.

Uzbekistan selected Citi, Gazprombank, J.P. Morgan, Societe Generale and VTB Capital as joint lead managers and bookrunners, the ministry said.

Within the planned road-show, international investors will be informed about the country's current macroeconomic indicators, measures taken to ensure stability during the coronavirus pandemic, prospects for reforming and privatizing state-owned enterprises and the banking sector, it said.

Uzbekistan placed its first-ever overseas government bonds on the London Stock Exchange in Britain on Feb. 13 last year following an extensive marketing exercise in New York, Boston and London.

The bond placement was hailed as historic by Uzbek officials as the country taps the international debt markets for the first time following decades of economic isolation. Enditem