Tashkent, June 19 -- Despite turbulent financial markets and the unprecedented spread of COVID-19, "Sanoat Qurilish Bank" (Uzpromstroybank) closed a landmark transaction with the lead participation of Eaton Vance Management and its affiliates, evidencing the appetite of international investors for good quality credits in Uzbekistan. "Sanoat Qurilish Bank's" reputation, business model, financial performance and stability supported successful execution of this placement.

The transaction was structured as a privately placed loan participation note, with a Dutch finance vehicle which funded a loan to "Sanoat Qurilish Bank". The loan was denominated in Uzbek Soum, reducing "Sanoat Qurilish Bank's" exposure to foreign exchange risk on the tran...