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, denominated in US dollars and Uzbek soums.
The issuance of international bonds in Reg S and 144A formats has enabled the bank to reach new heights in attracting investors not only from Europe but also from the USA, the Middle East, Southeast Asia, and other regions.
In London (UK), from 12 to 16 July 2024, negotiations were held with 60 prominent investors, including Morgan Stanley, Fidelity, Goldman Sachs Asset Management, Amundi, and LGIM.
During presentations and negotiations, the bank’s leadership provided investors with information on the ongoing socio-economic reforms in Uzbekistan, the banking and financial system, and the role of the bank within it, as well as the bank’s key performance indicators.
During the bond issuance process, offers were received from over 70 investors from 21 countries totaling more than US$900 million. Of these, US$400 million and 2.25 trillion soums were successfully attracted.
The funds raised from the issuance of international bonds on the London Stock Exchange will be used to expand financing for prospective “green,” stable, and social projects of the bank’s clients.
It is worth noting that in 2019, Uzpromstroybank became the first in Uzbekistan to issue corporate securities on the international capital market, and in 2023, it issued the first “green” bonds among banks in Uzbekistan.
