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Silk Road Group Interested in Purchasing Geocell

Silk Road Group is interested in purchasing Geocell, Lekso Topuria, member of Silk Road Group supervisory board, told Business Morning.

In response to the question whether the company will use 34mln GEL raised from Silknet bonds, Topuria said that the mentioned sum will refinance the TBC Bank loan. As to Geocell, Topuria confirmed and noted that if the company wins the tender, the decision will be taken which resource to use for the deal.

We plan to make a new tranche, however, at this stage I cannot specify the amount. I cannot say precisely whether this sum will be used for purchasing Geocell. Naturally, we have the interest and we participate in the tender process. We will take decision depending on the tender results whether this or other financial resources will be employed for financing. In this case we may use our own funds. We can use a bank credit and even funds raised from bonds.

We plan to issue bonds. The first tranche has showed that both Georgian and foreign funds are interested. Therefore, this is a good precedent if foreign funds purchase GEL-denominated bonds”, Topuria noted.

We remind you that TBC Capital has successfully completed placement of Silknet bonds of 34mln GEL. The company has for the first time issued bonds on Georgian telecommunication market.