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TBC Bank Acts as Underwriter of EBRD Eurobond Issue

TBC Bank has acted as lead manager and underwriter for European Bank for Reconstruction and Development  GEL 120 million Eurobond issue under EBRD’s Global Medium Term Note Programme. The bonds are to be listed on the London Stock Exchange.

“We are delighted to have completed another successful transaction with EBRD. Issuance of GEL denominated Eurobonds under the EBRD GMTN programme, that will be listed on the London Stock Exchange is an important achievement for the Georgian financial sector. This will further support the liquidity of the local currency and attract international investors to the local market” – commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.

“We are delighted to have completed another successful transaction with EBRD. Issuance of GEL denominated Eurobonds under the EBRD GMTN programme, that will be listed on the London Stock Exchange is an important achievement for the Georgian financial sector. This will further support the liquidity of the local currency and attract international investors to the local market” – commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.

The bonds are issued with a final maturity of five years and its coupons are linked to a three-month Certificates of Deposit issued by the National Bank of Georgia (“NBG”). It is expected that the Notes will be eligible for the repurchase operations carried out by the NBG.