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TASHKENT - Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" (NBU) announced Tuesday it has accepted $135.2 million in principal amount of its outstanding $300 million 4.85% Notes due 2025 for purchase through a tender offer.
The bank launched the offer on July 7, 2025, which expired at 4:00 p.m. London time on July 14. The settlement date is scheduled for July 17, 2025, according to a statement based on the bank’s press release.
NBU also expects to complete the signing of a new $300 million 7.20% Notes due 2030 issue on Tuesday, which would satisfy the new financing condition required for the tender offer settlement.
Following the completion of the tender offer and subsequent cancellation of the purchased notes, $127.7 million in principal amount of the 2025 Notes will remain outstanding.
The tender offer was conducted with several financial institutions serving as dealer managers, including Abu Dhabi Commercial Bank, Citigroup (NYSE:C) Global Markets Limited, Commerzbank (ETR:CBKG), J.P. Morgan Securities, Mashreqbank, Natixis, Oman Investment Bank, Société Générale (EPA:SOGN), and Standard Chartered (LON:STAN) Bank.
Kroll Issuer Services Limited acted as the tender agent for the transaction.
The announcement was made by Ilkhomjon Khakimov, Head of Dealing Division, Treasury Department, on behalf of the bank.
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