Landmark bond issue from IFC
London Stock Exchange welcomes the listing of the world’s first ever international Uzbek Soum- denominated bonds to its Main Market. The landmark bond issuance from IFC, a member of the World Bank Group, paves the way for the opening of the global Samarkand bond market to support financing of companies from Uzbekistan while raising the profile of the Uzbek Soum internationally.
The two-year dated Samarkand bonds raised UZS 160 billion (USD 20 million equivalent) and secured strong global investor support. The proceeds of the bonds will be used to expand lending for micro, small and medium-sized companies in Uzbekistan. Through JSCB Hamkorbank, the country’s leading private bank, long-term local currency financing will be boosted, enabling businesses to grow and avoid foreign currency borrowing-related risks.