Tashkent, Uzbekistan (UzDaily.uz) — Navoi Mining and Metallurgical Company JSC (NGMK) has successfully placed five-year corporate bonds worth US$500 million on the London Stock Exchange, with an annual coupon rate of 6.75%, according to the company’s press service.
The bonds were issued under international formats Reg S and Rule 144A, granting access to investors from the United States, Europe, Southeast Asia, and other regions.
The placement was carried out by a consortium of leading underwriter banks: Citi, JP Morgan, Societe Generale, and MUFG.
According to the underwriters, total demand from international investors exceeded US$2.3 billion — more than 4.6 times the offered volume — reflecting a high level of investor confidence in NMMC.
The proceeds will be used to optimize and diversify the company's loan portfolio under more favorable terms, which is expected to reduce current financial costs and improve debt management efficiency.
In October 2024, Navoi Mining and Metallurgical Company JSC successfully placed its inaugural Eurobonds on the London Stock Exchange (LSE), with a total value of 1 billion US dollars. The issuance was divided into two tranches: the first for 500 million dollars with a four-year maturity, and the second for an equal amount with a seven-year maturity. The coupon rates for the respective tranches were set at 6.7% and 6.95% per annum.
