Result of Tender Offer

JSC Natl. Bank FEA Uzbekistan (Rep)

15 July 2025

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA (THE "UNITED STATES")) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

15 July 2025

On 7 July 2025, Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" (the "Offeror") launched an invitation to the holders of the outstanding U.S.$300,000,000 4.85 per cent. Notes due 2025 (ISIN: XS2242418957) (the "Notes") issued by the Offeror (the "Offer").

The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 7 July 2025 (the "Tender Offer Memorandum"). Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum.

The Offer expired at 4.00 p.m. (London time) on 14 July 2025 (the "Expiration Deadline"). As at the Expiration Deadline, the Offeror has received valid tenders of U.S.$135,206,000 in principal amount of Notes for purchase pursuant to the Offer.

On 15 July 2025, the Offeror expects to complete the signing in respect of an issue of U.S.$300,000,000 7.20 per cent. Notes due 2030 and accordingly the New Financing Condition is expected to be satisfied prior to the Settlement Date of 17 July 2025.

Accordingly, the Offeror hereby announces that it will accept (subject to satisfaction (or waiver) of the New Financing Condition on or prior to the Settlement Date) all U.S.$135,206,000 in principal amount of Notes validly tendered for purchase pursuant to the Offer. The Offeror intends to cancel any Notes purchased pursuant to the Offer and the principal amount of the Notes that will remain outstanding following any such cancellation will be U.S.$127,712,000.

This announcement is made by Ilkhomjon Khakimov, Head of Dealing Division, Treasury Department, on behalf of Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" and constitutes a public disclosure of inside information under Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

Contact Details:

THE OFFEROR Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic Uzbekistan" 101, Amir Temur Avenue Tashkent 100084 Republic of Uzbekistan DEALER MANAGERS Abu Dhabi Commercial Bank PJSC Abu Dhabi Commercial Bank Building Sheikh Zayed Bin Sultan Street P.O. Box 939 Abu Dhabi United Arab Emirates Attention: Head of DCM Syndicate, Investment Banking Group Email: [e-mail] Citigroup Global Markets Limited Citigroup Centre Canada Square Canary Wharf London E14 5LB United Kingdom Telephone:  [phone] Attention:  Liability Management Group Email:  [e-mail] Commerzbank Aktiengesellschaft Mainzer Landstraße 151 DLZ-Geb. 2 Händlerhaus 60327 Frankfurt am Main Federal Republic of Germany Tel.: [phone] Email: [e-mail] Attention: Liability Management Group J.P. Morgan Securities plc 25 Bank Street Canary Wharf London E14 5JP United Kingdom Telephone:  [phone] Attention:  Liability Management Email: [e-mail] Mashreqbank PSC Mashreqbank Global Headquarters Al Umniyati Street Burj Khalifa Community P.O. Box 1250 Dubai United Arab Emirates Telephone: [phone] Attention: Head of DCM, Investment Banking Email: [e-mail] Natixis 7, promenade Germaine Sablon 75013 Paris France Telephone:  [phone] Email:  [e-mail] Oman Investment Bank Dana House Dohat Al Adab Street P.O. Box 10 Muscat, Muscat Governorate, 133 Oman Telephone: [phone] Email: [e-mail] Société Générale Immeuble Basalte 17 Cours Valmy CS 50318 92972 Paris La Défense Cedex France Telephone: [phone] Email: [e-mail] Attention: Liability Management Standard Chartered Bank 1 Basinghall Avenue London, EC2V 5DD United Kingdom Telephone: [phone] Email: Liability Management Attention: [e-mail] TENDER AGENT Kroll Issuer Services Limited The News Building 3 London Bridge Street London SE1 9SG United Kingdom Telephone: [phone] Email: [e-mail] Website: https://deals.is.kroll.com/nbu Attention: Owen Morris

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or exchange any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about and to observe any such restrictions.

 

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