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Capital Markets

Solward advises major market participants, including financial institutions, corporates, first-time issuers, and emerging market entrants, on the full range of capital markets transactions. Drawing on a proven track record of more than 100 debt and equity deals in emerging markets, our team delivers practical, battle-tested solutions tailored to Uzbekistan’s rapidly evolving financial landscape.

We represent issuers, shareholders, underwriters, investors, and arrangers on a wide range of capital markets matters, providing practical and commercially driven advice that reflects both Uzbekistan’s evolving regulations and international market standards.

Our core expertise includes:

  • Initial and secondary public offerings (IPOs and SPOs)

  • IPO readiness and listing preparation

  • Depositary programmes (GDRs and ADRs)

  • Public and private placements of debt, hybrid, and structured instruments

  • Regulatory advice to issuers and market participants

  • Support in developing financial market infrastructure

Our experience includes advising:

Potok 8 (formerly Mirax Group) on the private placement of rouble bonds and Eurobonds, followed by the restructuring of Russian and international public debt through an exchange offer and consent solicitation

VK on the restructuring of their convertible Eurobonds

ING Bank as the restructuring organiser and consent solicitation agent in connection with the debt tender offer and restructuring of the terms of the credit note (CLN) of the construction holding company Etalon-LenSpetsSMU

BCS Global Markets Qazaqstan Limited on the preparation of a prospectus and support for two issues of structured bonds on the Astana International Exchange (AIX) for a total amount of over RUB 3 billion

one of Russia's largest banks on the termination of obligations under ISDA Master Agreements with 8 European banks

Detsky Mir on the buyback of shares as part of the process of going private

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The experience presented, as well as the awards and rankings, were earned by the Solward team, including during their tenure at Unicase Central Asia. As of 15 July 2025, the law firm Unicase Central Asia in Uzbekistan has been renamed Solward.

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