Home / Banking / Company Silknet Issued 34 Million GEL worth Bonds With TBC Capital

Company Silknet Issued 34 Million GEL worth Bonds With TBC Capital

TBC Capital successfully completed the placement of Silknet bonds. The volume of bonds is 34 million GEL. It’s the first time on the Georgian telecommunication market company issue the bonds.

“Silknet” bonds term is 5 years. The annual coupon rate is 3.5% of the refinancing rate of the National Bank. Bonds have been purchased by banks in Georgia.

“We are glad to help our partner and leading telecommunication company Silknet in Georgia to implement large emissions. This emission will facilitate the growth of the company and further development, “- said TBC Bank’s Deputy Director General, Giorgi Tkhelidze.

“With this step, Georgia is a fully transparent player in the form of” Silknet “in the telecommunication field and an attractive company for the capital market. To achieve this goal, we have taken a lot of steps and we are happy that we have a financial institution like TBC Capital. It is important that Silknet is a Georgian company on the telecommunication market, which first issued bonds in GEL, “said Ilia Enukashvili, Head of the Silknet Strategic Development Department.

“TBC Capital” is a subsidiary of TBC Bank, which is engaged in investment banking business. “TBC Capital” offers corporate clients consulting, research and broker services.

JSC Silknet is a leading telecommunications company in Georgia, providing customers with internet, television, fixed telephone and business telecommunication services. The company has a B + rating issued by FITCH.

“Silknet” holds 41% of Georgia’s fixed internet market according to 6 months data of 2017, 30% of the broadcasting transit (IPTV) and 48% of fixed telephone networks.

The company has employed more than 1600 specialists.