Commentary & Deal Flow

Joint Stock Commercial Aloqabank (“Aloqabank”), a majority state owned universal commercial bank operating in the Republic of Uzbekistan, rated Ba3 by Moody’s and BB by Fitch (both stable outlooks), has mandated ADCB, Citi, First Abu Dhabi Bank and Mashreq as Joint Lead Managers and Joint Bookrunners to arrange a series of hybrid fixed income investor meetings over the course of today, May 6th, tomorrow, May 7th and on Friday, May 8th in London. A pre-recorded Global Investor Call will also be made available. An inaugural RegS / Rule 144A US$ 5-year senior unsecured notes offering (“US$ Notes”) will follow, subject to market conditions.

Additionally, Aloqabank will explore a potential UZS-denominated 3-year RegS / Rule 144A senior unsecured notes offering (where all amounts are payable in US$) (“UZS Notes” and together with the US$ Notes, the “Notes”) also subject to market conditions.

FCA/ICMA stabilization applies.