TBC Bank Issues Bonds Worth 49.6 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — TBC Bank, one of the country’s largest digital banks and part of the TBC Bank Group listed on the London Stock Exchange, has successfully issued two-year bonds in the national currency totaling 49.6 billion soums with a yield of 19%. TBC Capital acted as the deal advisor, while the placement was organized by Tashkent-based investment and consulting company ALKES.

The issuance of bonds in the national currency marks an important step in the development of Uzbekistan’s domestic debt capital market. The offering expands financing opportunities for Uzbek issuers and provides international investors access to one of the most dynamic frontier markets.

The transaction underscores TBC Bank’s strategy to diversify funding sources and develop the country’s financial market infrastructure, while also strengthening TBC Capital’s position as the first international investment intermediary operating with the Tashkent Stock Exchange.

Nika Kurdiani, CEO of TBC Uzbekistan, noted, “The successful issuance of bonds in the national currency is another step in diversifying TBC Bank’s funding sources in Uzbekistan and supporting the growth of the local capital market. The transaction demonstrates the country’s growing attractiveness to investors and our support for cross-border investments and the strengthening of financial infrastructure.”

Otar Sharikadze, CEO of TBC Capital, added, “This issuance confirms the growing confidence of international investors in TBC Bank and the strengthening of the domestic capital market in the national currency. We observe a steady increase in international investment flows into Uzbekistan and are ready to support issuers and investors as the financial market continues to develop.”