BAKU, Azerbaijan, July 24. Uzbekistan's steel producer Uzmetkombinat signed a memorandum of understanding with Citi to cooperate on international debt capital markets following talks in New York on expanding the company's access to global financing.
This was reflected in the statement by the Uzmetkombinat following a meeting of Uzmetkombinat Chairman and Chief Executive Officer Bahodir Abdullayev and Deputy Chairman Hasan Haydarov with representatives of Citi on July 24 to discuss raising funds in international capital markets, diversifying financing sources and potential future debt issuances.
The discussions focused on financing options to support the company's investment program and long-term growth strategy through international debt capital markets.
Following the talks, the parties signed a memorandum of understanding aimed at developing cooperation in international debt capital markets. Under the agreement, Citi's investment banking expertise will be used to explore the bank's potential role as coordinator and bookrunner for future international debt offerings by Uzmetkombinat.
"The memorandum provides for the use of Citi's investment banking expertise, including consideration of the bank's potential participation as coordinator and bookrunner for the company's future international debt issuances," Uzmetkombinat said.
The company said the agreement would help broaden its access to international financing and support funding for strategic investment projects.
"This meeting marked an important step toward expanding Uzmetkombinat's presence in international financial markets and strengthening opportunities to finance strategic investment projects," the company said.
Uzmetkombinat has stepped up engagement with global financial institutions and rating agencies as part of its broader strategy to diversify funding sources, improve corporate governance and strengthen its position in international capital markets.
