JSC Aloqabank has successfully completed its debut Eurobond issuance, raising USD 300 million through a 5-year offering with a 7.7% coupon rate. The deal marks an important milestone not only for the bank, but also for Uzbekistan's financial sector, becoming the country's first US dollar-denominated international bond transaction in 2026.
The notes have been listed on the London Stock Exchange, representing a landmark step in Aloqabank's journey toward international capital markets and setting a new benchmark for Uzbekistan's banking industry.
As one of the country's leading mid-sized banks, Aloqabank has successfully unlocked a new source of international funding through this public debt issuance. Investor interest was exceptionally strong, with the order book exceeding $1 billion — nearly four times the size of the transaction.
The strong demand and significant tightening from the initial pricing discussions highlight growing international confidence in Uzbekistan and Aloqabank's economic story. The transaction reflects the bank's solid financial position, resilience, and the increasing recognition of Uzbekistan among global investors.
The issuance was led by an international syndicate of joint lead managers and bookrunners, including Citibank, Mashreqbank, First Abu Dhabi Bank, and Abu Dhabi Commercial Bank.
This successful transaction opens a new chapter for Aloqabank, strengthening the bank's ability to diversify its funding base, expand relationships with international investors, and further reinforce its position in the global financial markets.
