Tashkent, Uzbekistan (UzDaily.uz) — Uzum has completed the placement of its fifth corporate bond issue on the Republican Stock Exchange “Toshkent” for 600 billion soums with a coupon yield of 18%.
About 60% of the issue was raised from non-residents, the company said.
With the new placement, the total volume of Uzum bonds placed on the local stock market across five issues has reached 2.1 trillion soums.
The company noted that in less than a year and a half, Uzum bonds have become one of the benchmarks of the corporate debt market, while the company itself has become the country’s largest private corporate issuer.
Meanwhile, on 15 September, the National Agency of Prospective Projects registered Uzum’s first foreign-currency bond issue worth US$50 million at a rate of 8.5%.
The company became one of the first in the country to issue foreign-currency bonds under the “regulatory sandbox.” Alkes acted as the underwriter for the issue.
Uzum plans to use the funds raised to develop fintech services, create new products and expand the infrastructure needed for the further development of the digital economy.
