Uzbek bank to issue 300-mln-USD Eurobonds

TASHKENT, Oct. 13 (Xinhua) -- Uzbekistan's largest bank, the National Bank for Foreign Economic Affairs (NBU), is to issue international bonds (Eurobonds) for 300 million U.S. dollars, the bank said Tuesday.

The decision was announced together with internationally recognized underwriting banks. Currently the NBU was holding one-on-one negotiations with foreign investors, it said.

The next step is to determine the price of the Eurobonds and their further sale on the London Stock Exchange based on the current state of the market, the statement added.

Earlier this week international rating agency Fitch Ratings has assigned an expected long-term 'BB-(EXP)' rating to NBU's Eurobonds.

NBU has become the second Uzbek bank to place Eurobonds after Uzpromstroybank sold a 300-million-USD bond last November.

[ Editor: WPY ]