Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan plans to issue Eurobonds in 2025Uzbekistan plans to issue sovereign Eurobonds in 2025, Deputy Director of the Public Debt Department at the Ministry of Economy and Finance, Behruz Karimov, announced on 12 February.

In 2024, the country placed Eurobonds worth US$4.1 billion. Of this amount, just over one-third accounted for government borrowing, while the remaining US$2.6 billion was allocated among Navoi Mining and Metallurgical Company (NGMK) and banks, including Uzpromstroybank, Agrobank, the National Bank of Uzbekistan, and Ipoteka Bank.

Karimov noted that while the government intends to enter the international debt market again, the volume of upcoming issuances will depend on global financial market conditions.

Previously, it was reported that major Uzbek companies would also raise funds through bond placements. Almalyk Mining and Metallurgical Combine (AGMK) has been tasked with issuing debut Eurobonds worth US$1 billion, while NGMK plans an additional US$500 million issuance. Additionally, Navoiuran and Uzmetkombinat each plan to raise US$300 million via Eurobonds.

International credit ratings are also expected for Uzbekistan Airways, Uzbekistan Airports, and the Committee for Highways. Meanwhile, Uzbekistan Airways is planning to secure US$100 million in loans.