Navoi Mining & Metallurgy Combine receives largest syndicated loan in history of Uzbekistan
For the first time in the history of Uzbekistan, the Uzbek State-Owned Navoi Mining & Metallurgy Combine (NMMC) attracted a long-term syndicated $1.2 billion loan without collateral for 5 years from leading international banks.
JP Morgan&Chase, Citi, Societe Generale, Credit Suisse, ICBC Standard, Halyk Bank and Deutsche Bank are jointly participating in providing funds to finance the company's general corporate goals and investment program.
The NMMC thanked all partners participating in the transaction for effective cooperation.
This is the first step for NMMC to closely cooperate with international financial markets, preparing the company for future Eurobond placement and IPO.
The transformation of the NMMC, which began in 2019, strengthened its position in the gold mining industry of Uzbekistan.
The Navoi Mining and Metallurgical Combine earned 11.3 trillion soums in net profit in 2021.