TASHKENT, Uzbekistan, May 17. Navoi Mining and Metallurgical Company (NMMC) has successfully placed five-year corporate bonds worth $500 million (the “Notes”) on the London Stock Exchange with an annual coupon rate of 6.75 percent, Trend reports.
The issuance of the Notes was supported by favorable conditions in the capital markets, attracting strong interest from a wide range of global investors.
The Notes were issued under Regulation S and Rule 144A of the US Securities Act, expanding the pool of potential investors to the United States, the UK, Europe, Asia, and other regions. The order book peaked at over US$2.3 billion, making the offering more than 4.6 times oversubscribed, underscoring robust demand.
Leading global financial institutions Citi, JP Morgan, Société Générale, and MUFG acted as joint bookrunners and joint lead managers for the transaction.
Proceeds from the Notes placement will be used to further optimize and diversify the company's existing credit portfolio on more favorable terms, thereby reducing financing costs.
NMMC is the world’s fourth-largest gold producer, with an annual output of 3.1 million ounces of gold (2024) and a total mineral resource base of 146 million ounces. The company’s operating mines include Muruntau-Myutenbay, the world’s largest open-pit gold deposit with over 100 Moz resource base. The company’s business model includes exploration, mine construction, operating mines and processing facilities, and gold refining, as well as mining equipment manufacturing and repair.
