Uzum raises $51M in fifth bond issue, becomes Uzbekistan's largest private issuer
What's the deal? Uzbek digital economy group Uzum has completed its fifth corporate bond placement, raising UZS 600 billion (about $51 million) on the Republican Stock Exchange "Toshkent"Dealroom has a profile for this one. Try Dealroom → at an 18% coupon yield. About 60% of the issue came from non-residents.
Why it matters: Across five issues, Uzum's total bonds placed on the local market have reached UZS 2.1 trillion. The company says it has become Uzbekistan's largest private corporate issuer in less than a year and a half.
What's the endgame? Uzum plans to use the funds to develop fintech services, build new products, and expand infrastructure for the digital economy.
What's next? On September 15, the National Agency of Prospective Projects registered Uzum's first foreign-currency bond issue, worth US$50 million at a rate of 8.5%. AlkesDealroom has a profile for this one. Try Dealroom → acted as underwriter.
The foreign-currency issue makes Uzum one of the first in the country to sell such bonds under the "regulatory sandbox."
The signal: Uzum's repeat placements — and the strong non-resident interest — point to a maturing corporate debt market in Uzbekistan, with the company positioning its bonds as a benchmark for local issuers.
Read more: uzdaily.uz
Image credit: Generated with Gemini
