Currency rates from 06/11/2024
$1 – 12774.98
UZS – -0.12%
€1 – 13914.51
UZS – -0.15%
₽1 – 130.14
UZS – 0.08%
Search
Finance 07/10/2024 Agrobank issues Eurobonds totaling US$400 million and 700 billion soums

Agrobank issues Eurobonds totaling US$400 million and 700 billion soums

Tashkent, Uzbekistan (UzDaily.com) — Joint-Stock Commercial Bank Agrobank has issued eurobonds amounting to US$400 million and 700 billion soums in total.

The five-year senior unsecured eurobonds worth US$400 million were issued with an interest rate of 9.25%. Additionally, the bank issued two-year senior unsecured eurobonds worth 700 billion soums at an interest rate of 21.75%.

Fitch Ratings assigned these bonds a long-term rating of “BB-,” matching Agrobank’s foreign currency issuer default rating (IDR). The bonds are considered direct and unconditional obligations of the bank, ranking equally with other unsecured obligations of Agrobank.

The “BB-” rating reflects the likelihood of government support for the bank due to its majority state ownership and its important role in Uzbekistan's economic and social policies.

Stay up to date with the latest news
Subscribe to our telegram channel