This indicates high investor confidence
The deal became the largest local currency issuance across Central and Eastern Europe
The placement will take place on the Republican Stock Exchange “Toshkent”
New regulation allows IFIs to list bonds on Uzbekistan’s stock exchange
Mortgage bonds are accepted at 90% of their market value
The $24.7 mln issuance carries a 14.5% coupon and was arranged by Merrill Lynch; proceeds will go toward supporting female entrepreneurs outside Tashkent
The Cabinet of Ministers of Uzbekistan has approved the relevant resolution
The securities will have a circulation period of two years
To address the economic slowdown
Each bond carries an 18% annual coupon rate