Uzbekistan’s Navoiyuran Issues $300 Mln Eurobonds on London Stock Exchange

In late June, Uzbekistan’s uranium producer Navoiyuran issued debut Eurobonds worth $300 mln on the London Stock Exchange, the company announced on its website.

«The initial interest rate on the five-year Eurobonds, totalling $300 mln, was set in the range of 7.250–7.375%, and the order book was officially opened,» the statement read.

Navoiyuran has become the first Uzbek company to list securities on the London exchange. Finasia Capitals acted as the financial advisor, Dentons provided legal support, and Deloitte served as the external auditor.

Demand from 93 investors exceeded $1.3 bn, oversubscribing the offer by 4.3 times. This enabled the company to lower the interest rate and set the final coupon at 6.7%.

Earlier, Kursiv Uzbekistan reported that Navoiuran received an ESG rating in April this year.