On October 27, 2020, Shavkat Mirziyoyev signed the Decree “On measures to accelerate the reform of enterprises with state share and the privatisation of state assets” No. 6096. The main goals of the reform and privatisation are to reduce the cost of production and make it competitive. The Decree provides for the approval of Annex No. 1, which includes a list of large state-owned enterprises and commerical associations subject to transformation. The list includes JSC “Uzautosanoat” where the state’s share is 100%.
Through JSC “Uzautosanoat”, the state owns “JSC Uzautomotors”, which is the largest car manufacturer in the region with a production volume of 300 thousand cars and a turnover of over $ 4 billion USD.
To expand financing opportunities, JSC “Uzavtomotors” decided to issue Eurobonds in 2021. Eurobonds will be issued according to the following terms:
size: USD 300 mn but subject to adequate demand;
maturity: 5-7 years;
format: Reg S;
status: Senior unsecured;
JSC “Uzautomotors” published the news on the Single portal of corporate information.