May 15, 2019 20:41
Uzbekneftegaz planning to place $1 bln of Eurobonds in 2020
TASHKENT. May 15 (Interfax) - JSC Uzbekneftegaz, Uzbekistan's oil and gas operator, is planning to place $1 billion of Eurobonds in 2020.
"We're planning to place $1 billion of Eurobonds in 2020," Deputy Chairman of the Board Bakhodirjon Sidikov told journalists.
Preparations are now underway, and the company may be ready for the placement by the middle of next year, he said.
This will be the company's first Eurobond placement. Gazprombank (MOEX: GZPR) has been named one of the two global coordinators and bookrunners of the issue.
In 2018, Uzbekneftegaz produced 61 billion cubic meters of gas (up 9.3% year-on-year) and 3 million tonnes of oil and condensate.
In February 2019, Uzbekistan entered the Eurobond market, placing two tranches of $500 million each. The yield of the five-year tranche was 4.75%, and that of the 10-year tranche was 5.375%.
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