Uzbekistan issued sovereign bonds worth $1 billion at a record-low interest rate

Uzbekistan issued sovereign international bonds in its national currency with a total value equivalent to $1 billion at an interest rate of 12.25% — a historically low level for such issuances.

The bonds are three-year instruments denominated in Uzbekistani sums. The issuance took place on international financial markets and attracted significant investor interest: total demand reached 23.4 trillion sums.

According to government estimates, this level of demand reflects growing confidence among international investors in the country's macroeconomic stability and the reforms being implemented.

The deal marks another step in the development of Uzbekistan's capital market and strengthens its position on the global financial stage.

Source: minecofinuz