Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to place international bonds worth US$750 million, the press service of the Ministry of Finance of Uzbekistan said in a statement.

According to the ministry, international bonds will be placed in two tranches. The first tranche in US dollars will be issued for a period of 10 years. The second tranche in Uzbek soums will be issued for a period of three years.

The initial interest rate of the bond in US dollars is set at 4.24% and in Uzbek soums - 15.25%.

The bonds will be listed on the London Stock Exchange. Citi (USA), J.P. Morgan Сhase (USA), Societe Generale (France), VTB Capital (Russia) and Gazprombank (Russia) act as underwriters of the issue.

In 2019, Uzbekistan placed eurobonds in the amount of US$1 billion. The issue was divided into two tranches of US$500 million each with a maturity of five (in 2024) and ten years (in 2029).