Can anything shut down the Gold rally?
TASHKENT - Joint-Stock Commercial Mortgage Bank "Ipoteka-Bank" announced the start of a stabilisation period for its upcoming dual-currency bond offering, according to a press release statement issued Thursday.
The Uzbek bank is preparing to issue USD 5-year fixed-rate senior unsecured notes with an aggregate nominal amount of $300 million, alongside UZS 3-year fixed-rate senior unsecured notes equivalent to $100 million. Both securities will be listed on the Vienna Stock Exchange MTF.
J.P. Morgan Securities PLC will serve as the stabilisation coordinator, with Citi, OTP Bank, Societe Generale, Bank of China, and Mashreq Bank acting as stabilisation managers.
The stabilisation period begins October 2, 2025, and is expected to end no later than November 2, 2025. During this time, stabilisation managers may over-allot securities by up to 5% of the aggregate nominal amount to support the market price.
The USD notes will have a minimum denomination of $200,000 with increments of $1,000. The offer price has not yet been determined.
The bank noted that stabilisation actions may not necessarily occur and could cease at any time, but must conclude no later than 30 days after the issue date or 60 days after allotment.
The securities will not be registered under the United States Securities Act of 1933 and are not being offered for sale in the United States. The offering is directed at qualified investors outside the UK and in EEA Member States in accordance with applicable regulations.
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