Uzbekistan’s Mortgage Refinancing Company to Issue Bonds Worth 200 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — JSC “Uzbekistan Mortgage Refinancing Company” has announced the initial placement of corporate bonds worth 200 billion soums, scheduled for 5 December, under the Bond Program registered in September.

The placement will be conducted as an open subscription for an unlimited circle of investors through a securities trading organizer in accordance with Uzbekistan’s legislation.

The issuance consists of interest-bearing registered corporate bonds with the state identification number RU306P0912T6.

The nominal value of one bond is 1 million soums, with a total of 200,000 bonds issued. Trading on the market is set to begin on 10 December, with a maturity period of 1,825 days and redemption scheduled for 9 December 2030.

The annual interest rate is set at 17.5%.

Interest income will be paid quarterly in soums based on the bondholders’ register maintained by the Central Securities Depository. Payments will be made within three business days after receipt of the register.

The company stated that the bond issuance aims to expand its resource base for the further development of mortgage refinancing instruments in Uzbekistan.