Banking
Posted: 6 months ago

Georgia to Cover Eurobonds on April 12 and Issue New Ones in 10 Days

On April 12 the Georgian Authorities will cover the Eurobonds of $500 million, the parliament’s finance and budget committee chairman Irakli Kovzanadze noted.

Today, the Government of Georgia must cover the principal sum of $500 million of Eurobonds issued 10 years ago. The loan will be refinanced and new Eurobonds of $500 million will be issued in 10 days, He said. “Eurobonds will be covered today. I am sure that our country will successfully place new Eurobonds of $500 million in 10 days. The world’s leading international commercial banks have engaged in the process and I believe in success of the coming placement”, Irakli Kovzanadze told reporters.

As reported, the Government of Georgia launched negotiations with international investment banks JP Morgan, Goldman Sachs and ICBD in March 20231 for refinancing Eurobonds. The 2011 Eurobond’s rate was 6.875%. Georgia investment banks Galt & Taggart and TBC Capital have also engaged in the Eurobonds refinancing process.