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Bruno Balvanera: Bonds are a Viable Source of Local Currency Funding

Bruno Balvanera: Bonds are a Viable Source of Local Currency Funding

Bruno Balvanera, EBRD Director for the Caucasus, Moldova and Belarus declares that the transaction sends a strong signal that bonds are a viable source of local currency funding for the private corporate sector.

The EBRD invested GEL 20 million in a bond subscription by JSC Evex Medical Corporation.

According to Balvanera, the total volume of the bond programme is 90 million GEL ($ 37.5 million-equivalent) and the proceeds will be used to refinance existing debt and capital expenditure needs for the further development of the company’s health care services.

Balvanera declares that this is a historic step forward for the development of the local capital markets in Georgia.