Uzpromstroybank Issues International Bonds on London Stock Exchange
Tashkent, The Gulf Observer: For the first time in the history of Uzbekistan’s banking system, Uzpromstroybank has issued international bonds on the main market of the London Stock Exchange in Reg S and 144A formats. These bonds are denominated in both US dollars and Uzbek soums, marking a significant achievement for the bank and the country.
The issuance of international bonds in Reg S and 144A formats has enabled Uzpromstroybank to attract a diverse range of investors from Europe, the USA, the Middle East, Southeast Asia, and other regions. This strategic move has positioned the bank at new heights in the global financial landscape.
From July 12 to 16, 2024, in London, UK, Uzpromstroybank held negotiations with 60 prominent investors, including Morgan Stanley, Fidelity, Goldman Sachs Asset Management, Amundi, and LGIM. During these presentations and negotiations, the bank’s leadership provided detailed insights into the ongoing socio-economic reforms in Uzbekistan, the state of the banking and financial system, the bank’s role within it, and its key performance indicators.
The bond issuance process garnered substantial interest, with offers received from over 70 investors across 21 countries, totaling more than US$900 million. Out of these, Uzpromstroybank successfully attracted US$400 million and 2.25 trillion soums.
The funds raised from the issuance of these international bonds will be allocated to expanding financing for prospective “green,” stable, and social projects of the bank’s clients, underscoring the bank’s commitment to sustainable development.
This milestone follows Uzpromstroybank’s pioneering efforts in 2019 when it became the first bank in Uzbekistan to issue corporate securities on the international capital market. Furthermore, in 2023, Uzpromstroybank issued the first “green” bonds among banks in Uzbekistan, reinforcing its leadership in innovative financial solutions.
