TASHKENT, Uzbekistan, May 2. Uzbekneftegaz JSC, the leading state-owned oil and gas company of Uzbekistan, successfully returned to the international debt capital market with the placement of $850 million in 5-year Eurobonds, setting a new record for the country, Trend reports.
This issuance marks a significant milestone in the company's strategic development, reinforcing its solid credit rating and strengthening investor confidence in Uzbekistan’s financial market. The offering attracted strong interest from major global investors, including fund managers, private and institutional banks, pension funds, and insurance companies across the UK, USA, Europe, Switzerland, and Asia. Orders totaled $1.9 billion, allowing Uzbekneftegaz to tighten the pricing by 37.5–50 basis points and increase the issue size to $850 million.
This deal represents the largest single-tranche bond issuance in Uzbekistan’s history. The previous record, also held by Uzbekneftegaz, was set in 2021. The bonds are listed on the London Stock Exchange’s International Securities Market (ISM).
The transaction was carried out in collaboration with leading global financial institutions, including J.P. Morgan, Abu Dhabi Commercial Bank, Deutsche Bank, MUFG, and Standard Chartered Bank as bookrunners, and O'zsanoatqurilishbank as co-manager.
This landmark issuance further enhances Uzbekneftegaz’s reputation on international capital markets and signals a new phase in the company’s development and leadership in the energy sector.
