Tashkent, Uzbekistan (UzDaily.com) — Uzbekneftegaz has signed a club loan agreement worth US$207 million with three international banks, according to a statement from the company’s press service.

The deal was concluded during a working visit by Uzbekneftegaz and its financial advisor, Finasia Capital, to London from 28 April to 1 May. The loan was provided by Standard Chartered, MUFG Bank, and Abu Dhabi Commercial Bank. The raised funds will be used to expand financing opportunities for investment and ESG (Environmental, Social, and Governance) projects.

In addition, Uzbekneftegaz successfully completed the largest Eurobond placement in its history — a US$850 million issuance with a five-year maturity. Demand for the bonds reached US$1.9 billion, enabling a reduction in interest rates by 37.5–50 basis points to an annual yield of 8.75%. The company noted that investor interest far exceeded the expectations of the underwriting banks.

The new Eurobond issuance received a “B+” rating from S&P Global. The proceeds are expected to be primarily used for debt refinancing, capital expenditures, and general corporate purposes.

It’s worth noting that in October 2024, Uzbekneftegaz had already been in talks with foreign banks regarding an additional Eurobond issue, as well as exploring syndicated loans and alternative financing options — including export credits and multilateral guarantees.

Would you like a concise version of this for a news brief or press release format?