Bank of Georgia Issues $300 Million in 9.5% Capital Bonds

Bank of Georgia Group PLC's banking business subsidiary, JSC Bank of Georgia successfully priced a USD 300 million offering of 9.5% perpetual subordinated callable additional tier 1 notes. The Notes are denominated in USD and are expected to settle on 16 April 2024.

The Notes are being issued in accordance with Reg S/Rule 144A and sold at an issue price of 100%. Citigroup and J.P. Morgan are acting as Joint Lead Managers and Bookrunners for the Notes, BCP Securities is acting as Joint Lead Manager and Galt & Taggart is acting as Co-manager. Latham & Watkins (London) LLP is acting as the legal advisor to the Joint Lead Managers in respect of English and United States federal law and Dentons Georgia LLC is acting as the legal advisor to the Joint Lead Managers in respect of Georgian law.