Tashkent ( WNAM MONITORING): TBC Bank Uzbekistan plans to issue a new series of corporate bonds, according to information on the Unified Corporate Information Portal.
The decision to issue the bonds was unanimously approved by the bank’s board during a meeting on 6 December.
The bonds will be placed through a closed subscription among pre-selected investors.
As part of the issuance, TBC Bank Uzbekistan intends to offer 128 million bonds with a face value of 1,000 soums each.
The total issuance amount will be 128 billion soums.
The bonds will have a two-year (730-day) term to maturity. The coupon rate will be set in the issuance decision, which is yet to be registered with the National Agency for Prospective Projects.
The placement of the bonds is expected to be completed within 20 business days after the issuance is registered.
It is worth noting that in November, TBC Bank Uzbekistan issued bonds worth 40 billion soums with an interest rate of 24% per annum. On that occasion, the bonds were placed through TBC Capital, which is part of the bank’s parent financial and investment group.
