Bank of Georgia Signs 10-Year Loan Agreement Totaling 107 million USD
Bank of Georgia has attracted 10-year subordinated syndicated loans of 107 million USD. The bank has already signed a due agreement.
The agreement syndication agent is FMO - Dutch entrepreneurial development bank. The initial participants jointly with the agent are: DEG - Deutsche Investitions-und Entwicklungsgesellschaft, Finnish Fund for Industrial Cooperation Ltd., Obviam, Swedish Development Finance Institution - Swedfund International AB, BlueOrchard Microfinance Fund (BOMF) და Symbiotics Group.
The recourse is to classify the bank’s secondary capital into an instrument as part of the III Basel regulation. This deal will further improve positions of the bank’s capital.
“I would like to thank our new partner creditors for diversification of the bank’s capital structure and promotion for strengthening the capital position that is reflected in enhancement of Bank of Georgia as Georgia’s leading commercial bank”, BOG director general Archil Gachechiladze said.