Results Announcement

Uzbek Ind & Construction Bank

23 July 2024

 

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.

23 July 2024

On 12 July 2024, Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank" (the "Offeror") launched an invitation to the holders of the outstanding U.S.$300,000,000 5.75 per cent. Notes due 2 December 2024 (ISIN: XS2083131859) (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 12 July 2024 (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 22 July 2024 (the "Expiration Deadline"). As at the Expiration Deadline, the Offeror has received valid tenders of U.S.$221,780,000 in principal amount of Notes for purchase pursuant to the Offer.

On 22 July 2024, the Offeror completed the signing in respect of an issue of U.S.$400,000,000 8.950 per cent. Notes due 2029 and accordingly the New Financing Condition is expected to be satisfied prior to the Settlement Date of 25 July 2024.

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.$221,780,000 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.$78,220,000.

This announcement is made by Mr. Aziz Akbarjonov, Chairman of the Management Board, on behalf of Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank" 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

"Uzpromstroybank" JSCB 3 Shaxrisabskaya Street Tashkent 100000 Republic of Uzbekistan

THE DEALER MANAGERS

BancTrust Investment Bank Limited 8 Bishopsgate Level 36 London, EC2N 4BQ United Kingdom	Citigroup Global Markets Limited Citigroup Centre Canada Square Canary Wharf London E14 5LB United Kingdom
Telephone:  [phone] Attention:  Liability Management Email:  [e-mail]	Telephone:  [phone] Attention:  Liability Management Group Email:  [e-mail]
J.P. Morgan Securities plc 25 Bank Street Canary Wharf London E14 5JP United Kingdom	Raiffeisen Bank International AG Am Stadtpark 9 1030 Vienna Austria
Telephone:  [phone] Attention:  Liability Management Email:  [e-mail]	Telephone: [phone] Email: [e-mail]; [e-mail] Attention: Transaction Management Team
Société Générale Immeuble Basalte 17 Cours Valmy  CS 50318 92972 Paris La Défense Cedex France
Telephone: [phone] Email: [e-mail] Attention: Liability Management
THE TENDER AGENT Citibank, N. A., London Branch Citigroup Centre Canada Square Canary Wharf London E14 5LB United Kingdom Telephone:  [phone] Email: [e-mail]

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.

 

END