Uzbekistan listed two tranches of eurobond totaling $750mn, one of the tranches is denominated in dollar, while the second-in the national currency, banking sources told Reuters.
The 3-year benchmark eurobond yield in UZS is about 15.250%, 10-year dollar-denominated security – around 4.250%.
Despite the different face value currencies, all payments and settlements for both tranches are provided in dollar, including coupons and repayments.
The calculations are to be made based on the exchange rate of the central bank of Uzbekistan.
Citi, Gazprombank, J. P. Morgan, Societe Generale and VTB Capital have been appointed joint lead managers and bookrunners.
Uzbekistan placed its debut eurobond worth $1bn in early 2019.