Street Calls of the Week
LONDON - Navoi Mining and Metallurgical Company (NMMC) announced Thursday that no stabilisation activity was undertaken for its recent $500 million bond offering, according to a statement from Societe Generale (OTC:SCGLY), which served as the stabilisation manager.
The 5-year bond, set to mature on May 30, 2030, carries a 6.75% coupon rate and was initially priced at 100% of face value. The stabilisation period, which began on May 7, 2025, was expected to end no later than June 13, 2025.
Societe Generale confirmed that despite having the authority to over-allot securities to the extent permitted by applicable law, no market stabilisation measures were implemented during the designated period.
The bonds have not been registered under the United States Securities Act of 1933 and are not being offered for sale in the United States, according to the company’s press release statement.
NMMC is a joint-stock company based in Uzbekistan that operates in the mining and metallurgical sector. The announcement was made through the London Stock Exchange (LON:LSEG)’s news service, RNS.
The bond issuance represents part of the company’s financing activities, with the proceeds expected to support its ongoing operations, though specific use of funds was not detailed in the announcement.
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