The Ministry of Finance of the Republic of Uzbekistan announced the initial price thought for its next sovereign Eurobonds

Within the framework of the road-show event held on 17-18 November of this year:

•​About 90 international investors from such countries as the United States, Great Britain, Denmark, Australia and the United Arab Emirates took part in the Global Investor Call;

•​one-on-one virtual meetings were organized with about 15 major international investors;

•​A number of questions were raised by the international investors on fiscal policy and public debt dynamics, monetary policy and inflation targeting, as well as institutional reforms, including the fight against corruption, for which answers in detail were provided.

As a result, international investors expressed theirpositive opinion on the macroeconomic prospects and systemic reforms of the country.

As a result, a number of major international investors have expressed their interest in issuing sovereign international bonds denominated not only in dollars but also in Uzbek soums. 

The issuance of Eurobond in Uzbek Soum will serve to reduce currency risks and contribute to future development domestic market - the state treasury bond market.

Joint Lead Managers and Bookrunnders as Citi, JP Morgan, Societe Generale, VTB Capital and Gazprombank announced the Eurobond offering in the amount of USD 750 mn in dual tranche – with maturity of 10 years denominated in USD and In Uzbek soumswith maturity of 3 years

Initial price thought was determined to be around 4.25% and around 15.25%. At 09:00 London time, the orderbook was declared open. The process of setting the coupon rate for the next sovereign Eurobonds of the Republic of Uzbekistan is expected to be completed today (November 19), depending on the orderbook size and investor demand as well as the situation in financial markets. 

Additional information will be provided during the transaction.