LONDON, September 14, 2017: Morgan Lewis served as US legal adviser to the Republic of Tajikistan on a $500 million Eurobond offering that closed today.
The offering of 7.125% Notes due 2027 was made under Rule 144A and Regulation S, and the bonds are listed on the Euro MTF market of the Luxembourg Stock Exchange. It is Tajikistan’s first-ever sovereign Eurobond offering.
The proceeds of the offering will be used by Tajikistan to provide financing for the construction of the Rogun hydropower plant, an embankment dam under construction on the Vakhsh River in southern Tajikistan. The Rogun dam, which would be the world’s tallest dam when completed, is expected to provide energy security to Tajikistan and to utilize its substantial hydroelectric power resources in order to generate revenues from exports of electricity.