Uzbekistan’s capital markets regulator plans to make it mandatory for foreign brokers to have local offices or partners to issue Eurobonds of Uzbek issuers, a spokesman told Reuters on Monday.
Foreign investment banks “will have to open a representative office in Uzbekistan or find a licensed local partner” and create a consortium with it, according to new rules that could be approved as early as this month, Bahadir Abibullayev said.
Uzbekistan plans to issue Eurobonds worth at least $500 million in 2020. At the beginning of this year, Uzbekistan placed debut Eurobonds worth $1 billion.
