Tashkent, Uzbekistan (UzDaily.com) -- On 14 February, Uzbekistan plans to place five-year eurobonds for US$500 million and ten-year eurobonds for US$500 million.

Initially, the coupon range was set at 5.625–5.75% and 6%, but because of high demand, interest rates on eurobonds dropped to 4.75% and 5.375% respectively.

Uzbekistan places eurobonds for the first time. Investors show great interest in bonds of Uzbekistan.

The order book on the London Stock Exchange was opened on Wednesday, it will operate one day.

After the opening of trading, the volume of orders (demand) exceeded US$8.5 billion with an offer of US$1 billion.

The placement was organized by JP Morgan Chase, Citibank and Gazprombank.