BAKU, Azerbaijan, July 24. Uzbekistan's steel
producer Uzmetkombinat signed a memorandum of understanding with
Citi to cooperate on international debt capital markets following
talks in New York on expanding the company's access to global
financing.
This was reflected in the statement by the Uzmetkombinat
following a meeting of Uzmetkombinat Chairman and Chief Executive
Officer Bahodir Abdullayev and Deputy Chairman Hasan Haydarov with
representatives of Citi on July 24 to discuss raising funds in
international capital markets, diversifying financing sources and
potential future debt issuances.
The discussions focused on financing options to support the
company's investment program and long-term growth strategy through
international debt capital markets.
Following the talks, the parties signed a memorandum of
understanding aimed at developing cooperation in international debt
capital markets. Under the agreement, Citi's investment banking
expertise will be used to explore the bank's potential role as
coordinator and bookrunner for future international debt offerings
by Uzmetkombinat.
"The memorandum provides for the use of Citi's investment
banking expertise, including consideration of the bank's potential
participation as coordinator and bookrunner for the company's
future international debt issuances," Uzmetkombinat said.
The company said the agreement would help broaden its access to
international financing and support funding for strategic
investment projects.
"This meeting marked an important step toward expanding
Uzmetkombinat's presence in international financial markets and
strengthening opportunities to finance strategic investment
projects," the company said.
Uzmetkombinat has stepped up engagement with global financial
institutions and rating agencies as part of its broader strategy to
diversify funding sources, improve corporate governance and
strengthen its position in international capital markets.
