Uzbekistan's Eurobonds to be included in GBI-EM JPMorgan index from Sept 30

TASHKENT. Aug 10 (Interfax) - Uzbekistan's sovereign international bonds, denominated in sum, will be included in the Government Bond Index - Emerging Markets (GBI-EM) of JPMorgan Chase & Co. from September 30, the Uzbek Economy and Finance Ministry said.

In April, Uzbekistan placed three-year sovereign international bonds in the equivalent amount of $1 billion, or 12.2 trillion sum, at a rate of 12.25% per annum. According to the ministry, this rate is on average 14 basis points lower than the average yield on the domestic financial market.

GBI-EM is an index of government bonds of developing countries denominated in national currencies. The index is used by international investors managing assets of more than $300 billion. Currently, it includes 20 developing countries, 13 of which have investment-grade credit ratings.

Uzbekistan will become the only country in the Commonwealth of Independent States (CIS) whose sovereign bonds in national currency are represented in the GBI-EM index.