Som like it hot: Uzbekistan entices investors with dual currency bond

By Mariam Meskin
20 Nov 2020

The Republic of Uzbekistan, which debuted in international debt markets just last year, sold a dual currency bond this week, as foreign investors eyed up an Uzbek som tranche.

The Reg S/144A bond sale consisted of a 10 year $555m 3.7% November 2030 tranche and a Us2bn ($192.6m) 14.5% November 2023 tranche.

Initial price thoughts on Thursday afternoon were 4.25% area and 15.25%, respectively.

The 10 year dollar tranche was printed inside fair value estimates ...

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