Uzbek bank close to three times subscription by guidance

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By Ross Lancaster
25 Nov 2019

Uzpromstroybank, the BB-/BB- rated bank that is majority owned by the Uzbek government, had racked up more than $800m of orders by lunchtime on Monday for its five year dollar bond.

After roadshowing last week, the issuer had updated investors on Thursday that it intended to issue a maximum $300m five year bond by Monday at the earliest.

“It is pretty interesting because it is state owned so has the same rating as the sovereign but could provide a ...

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