Uzbekistan

The roadshow for Uzbekistan’s debut dollar denominated 144A/Reg S benchmark started this week, but with only two of the three international banks originally picked for the mandate still present on it.

Uzbekistan landed on screens on Monday morning, announcing a roadshow to promote its debut in the Eurobond market.

An old argument has rattled on for years between some CEEMEA issuers and banks about the wisdom of paying nothing to banks to arrange sovereign bonds. Uzbekistan has settled it.

Uzbekistan could announce roadshow dates as early as next week, having put ratings in place and picked banks for its debut Eurobond.

Uzbekistan has got its first infrastructure financing from the European Bank for Reconstruction and Development for almost a decade, as it starts to reap the rewards of its Development Strategy.

HSBC DCM banker Odilbek Isakov has been hired to run Uzbekistan’s new debt management office.

The world’s first bond denominated in Uzbekistani soum was listed on the London Stock Exchange on Wednesday morning. The bond, issued by the International Finance Corporation, is expected to be the first step in the country’s growing ambitions for a capital markets presence.

Emboldened by the ability of its neighbour Tajikistan to access the capital markets, Uzbekistan is preparing ground to secure its first sovereign rating, with a view to issuing a Eurobond in the future, according to sources.

Economic growth in Central Asia is picking up but experts at the IMF are concerned that leaders are not doing enough to address fiscal deficits

This article is the fourth and final part of a series on China’s Belt and Road Initiative that we are publishing during the 2017 IMF-World Bank annual meetings in Washington DC. We have devoted two articles to the Road element, and two to the Belt element, of which this piece is the second and focuses on the western part of the overland route

The Korea Exchange (KRX) has set its sights on Uzbekistan, as the Asian regulator takes another step forward in its plan to draw overseas companies to list on its markets.

Russia’s DeltaCredit Bank has opened books on a Rb5bn ($151m) five year covered bond and is aiming to close the deal by Friday, said bankers on the deal.