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.
Related Articles
Ukraine’s non-performing loan share falls to decade low as banks post steady profits
The share of non-performing loans (NPLs) in Ukraine’s banking sector has fallen to its lowest level in a decade, even as the country’s lenders continue to deliver strong profits despite the ... more
Azerbaijan tightens banking operations on foreign financial sources
Azerbaijan has implemented new restrictions on banking operations involving foreign financial sources, with amendments signed by President Ilham Aliyev targeting unregistered foreign financial ... more
Uzbekistan’s banking sector becoming more resilient, says Fitch
Uzbekistan’s banking industry is becoming more resilient, with the sector underpinned by ongoing structural reforms, stronger regulation and improving governance, ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
22 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago