Uzbekistan’s UzAuto Motors to sell dollar notes in international market

Chicago, April 22 – Uzbekistan’s UzAuto Motors' is planning a $300 million bond offering (B+/B+), according to a company notice.

Citigroup, MUFG, Natixis and Raiffeisen Bank International are underwriting the deal which is being marketed via teleconference on April 22 and one-on-one telephone meetings.

Pricing is yet to be set, but order books are expected to open in the next few days.

The issue will be among the first corporate issues to come from the republic.

Proceeds, according to Fitch Ratings, will be used for general corporate purposes.

UzAuto, based in Uzbekistan, produces, assembles and sells cars, currently under the Chevolet and Ravon brands.

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