Uzum considers eurobond sale after becoming top local issuer
Summary
Uzbekistan’s leading fintech firm, Uzum, is poised to enter the international debt market, following its achievement as the largest private corporate issuer in the domestic market. This move aligns with trends in Central Asian debt, where investor demand has surged, particularly for Uzbek companies. Uzum is looking to expand its unsecured lending business and considers eurobonds a strategic next step, which could materialize later this year or early next year depending on market conditions.
Analysis
Uzum: Uzum is Uzbekistan's leading digital ecosystem company integrating e-commerce, fintech, and digital banking services. It has become the largest private corporate bond issuer in the domestic market. Co-founder and chief strategy officer Nikolay Seleznev indicated the company is weighing its first eurobond sale, potentially as early as the end of the year, to support expansion in unsecured lending. Regional Markets: Central Asian debt has drawn strong investor demand in recent years, with Kazakhstan the region's most active eurobond issuer and Uzbek companies increasingly attracting large order books. Financing Strategy: Uzum is expanding its unsecured lending business and views eurobonds as a logical next step when market conditions are favorable, possibly later this year or early next year.
Categories
macro
Related sources
- https://kapital.uz/uzum-stal-krupnejshim-emitentom/
- https://www.uzdaily.uz/ru/uzum-razmestil-obligatsii-na-600-mlrd-sumov/
- https://www.bloomberg.com/news/articles/2026-10-09/uzbek-fintech-uzum-eyes-eurobond-after-becoming-top-local-issuer
- https://www.headliner.nl/artikelen/uzum-overweegt-eerste-eurobond-emissie-leningengroei-oezbekistan-stimuleren-191651
- https://oninvest.com/article/uzbekskij-finteh-startap-uzum-mozet-vyjti-na-mezdunarodnyj-dolgovoj-rynok
- https://uz.kursiv.media/uz/2026-09-16/uzum-obligatsiyalar/
- https://en.oninvest.com/article/the-uzbek-fintech-startup-uzum-may-enter-the-international-debt-market
- https://pivot.uz/uzum-places-uzs-600b-in-bonds-and-registers-50m-currency-bond-issue/
- https://techcrunch.com/2025/08/05/uzbekistans-first-unicorn-uzum-leaps-to-a-1-5b-valuation/
- https://techcrunch.com/2026/03/10/uzbekistans-uzum-valuation-rises-1-5x-in-seven-months-to-2-3b/
- https://en.wikipedia.org/wiki/Uzum
- https://www.fintechprofile.com/roman-lavrentyev-co-founder-and-coo-uzum/
- https://www.spot.uz/ru/2026/09/16/uzum-bonds/
- https://www.uzdaily.uz/en/uzum-places-uzs-600-billion-in-bonds/