UzAuto Motors is considering a $300mn eurobond issue, according to data published on Uzbekistan’s Unified Portal of Corporate Information on October 30.
“We are pleased to inform that UzAuto Motors is currently considering expanding its funding options through the issuance of eurobonds in 2021,” the company said in a statement.
If issued, the bonds would be USD-denominated with a maturity of 5-7 years, it added.
Legal counsel hired for the envisaged issuance would be responsible for liaising with the London Stock Exchange (LSE) from December, according to the provided information.
State-controlled UzAuto Motors, formerly the GM Uzbekistan joint venture and before that Uz-DaewooAuto, is the largest car manufacturer in Uzbekistan. It produces passenger vehicles under the “Chevrolet” brand in alliance with General Motors.
The company, which features in the Mirziyoyev administration's privatisation plans, has an annual production output of 300,000 vehicles and an yearly turnover of more than $4bn-equivalent.
Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more
The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more
The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more