Tbilisi (GBC) – TBC Uzbekistan has successfully placed UZS 49.6 billion (approx. USD 4.1 million) worth of 2-year local-currency bonds with a 19% coupon rate.

TBC Capital acted as the transaction advisor, while the placement agent was a Tashkent-based firm.

“This issuance represents another important step toward diversifying TBC Bank’s funding sources in Uzbekistan and supporting the development of the local capital market,” said Nika Kurdiani, CEO of TBC Uzbekistan.

Earlier this year, on February 28, TBC Uzbekistan issued UZS 128 billion in 2-year notes at a 24% coupon. That placement attracted institutional investors linked to the governments of the UAE and Azerbaijan. Abu Dhabi Uzbek Investment purchased 70% of the issuance, while the Azerbaijan-Uzbekistan Investment Company acquired the remaining 30%.