InfinBANK signs $300 million Eurobond placement deal with US bank Oppenheimer & Co.

Uzbekistan's InfinBANK has signed an agreement with the US investment bank Oppenheimer & Co. Inc. to place Eurobonds worth $300 million. The deal was concluded within the framework of the C5+1 summit in Samarkand.

The agreements were exchanged at a ceremony attended by the head of the US and foreign commercial service within the International Trade Administration of the US Department of Commerce, and by Uzbekistan's Minister of Investment, Industry and Trade. The event took place alongside a visit by Marco Rubio and the arrival in Samarkand of a delegation of more than 200 American companies. According to the source, the development marks a new stage in trade and economic ties between the United States and Uzbekistan.

InfinBANK said the partnership gives it direct access to international debt capital markets. The bank is also expected to significantly expand its ability to provide long-term financing for large-scale business projects in the real sector of Uzbekistan's economy. The source notes that the signed deal shows high-level general agreements turning into real and effective partnership.