Tashkent, Uzbekistan (UzDaily.com) – Russia’s Sovcombank will act as one of the organizers of the first issue of bonds in Russian rubles of the National Bank of Uzbekistan.

PJSC Sovcombank, JSC Gazprombank, JSC Rosselkhozbank and JSC Asia-Invest Bank will act as organizers of the first issue of bonds in Russian rubles by JSC National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (National Bank).

The corresponding agreement was signed by the banks within the framework of the forum "Uzbekistan: Results and Prospects of Economic Reforms", which takes place in Tashkent on 29-30 September.

“We are ready to offer the National Bank our experience and accumulated expertise in the field of organizing bonded loans. I am sure that the debut of a bank from Uzbekistan on the Russian market will become a noticeable event and another evidence of the active development of the financial sector of the Republic and its economy as a whole,” said Mikhail Autukhov, Deputy Chairman of the Board - Head of Sovcombank’s corporate and investment division.

Sovcombank is one of the leaders in the organization of bonded loans in the Russian Federation. In 2020, the bank organized 112 placements (excluding five of its own issues), which is the best indicator on the Russian market. According to Bloomberg, Dealogic and Cbonds, the bank is one of the five largest arrangers of bonds issued by Russian issuers in the foreign and domestic markets.