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Ipoteka Bank issues 5-year international bonds worth US$300 million on the London Stock Exchange

Ipoteka Bank issues 5-year international bonds worth US$300 million on the London Stock Exchange

13/11/2020 13:53

Tashkent, Uzbekistan (UzDaily.com) -- Ipoteka Bank issued 5-year international bonds worth US$300 million on the London Stock Exchange on 12 November and became a full participant in the international capital market.

On 12 November 2020, based on the recommendations of financial consultants based on investors ‘ proposals, Ipoteka Bank’s initial price thought was set at 5.625% and the order book was declared open at 9:00 London time.

The volume of orders reached 300 million in 1 hour. The planned issue was fully covered in US dollars. The volume of orders in the sales process amounted to US$500 million. It allowed the issuer to lower the initial interest rate.

At 3:00 pm London time, the final interest rate and coupon were reduced by about 0.125% to 5.50%. International bonds were distributed among quality investors from Switzerland (22%), the United Kingdom (20%), the United States (14%), Germany (18%) and a number of other European and Asian countries (26%).

The successful placement of Eurobonds by the bank testifies to the positive assessment of the reforms carried out by investors in the Republic of Uzbekistan, including in the banking sector.

 

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