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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more