Bakhvi 3 HPP offers to invest free financial resources in its loan securities – 10-year bonds. Nominal value of total issuance is 1 267 000 USD.
Nominal value of a bond is 1000 USD, while annual yield constitutes 9.4%. Bonds are denominated in USD and yields are also paid in USD.
“It is an unique case, when an independent hydro power facility issues a loan instrument”, Bakhvi 3 HPP executive director Vakhtang Ghonghadze told Business Course.
Public placement of Bakhvi 3 HPP shares is a very interesting offer for the Georgian market.
“This is public placement and anybody is able to buy bonds. The price of a bond is 1000 USD, while nominal value of total issuance is 1 267 000 USD. Maturity period of the bond is 10 years and annual yield makes up 9.4% and this is fourfold better conditions as compared to commercial banks.
Bonds are denominated in USD and yield is paid in USD every 6 months. We may cover loan liabilities before TBC Bank. The date has been determined in advance, when bonds will be paid and I believe this is a very interesting offer for Georgia market”, Bakhvi 3 HPP executive director Vakhtang Ghonghadze said.
Bakhvi 3 is located at the river Bakhvistskali, Guria Region. Its installed generation is 9.8 megawatts and annual generation makes up 41 gigawatt/hour. The facility supplies electricity to Georgia and Turkey.
Bakhvi 3 HPP is owned by LLC Bakhvi Hydro Power, subsidiary of Silk Road Group.