Posted: 3 years ago

TBC to Issue Euro Bonds Worth of 300 Million USD

TBC will issue denominated bonds worth of 300 million US dollars, unsecured, valid for 5 years. 

More than 700 million US dollars have been demanded by investors on the above-mentioned bonds. TBC will pay 5.75% annual interest rate, which is historically the lowest rate on Eurobonds issued from Georgia.

It is planned to place securities simultaneously as the leading European, Irish and Georgian Stock Exchange, which is an unprecedented event in the history of the Georgian stock market and banking sector. The local placement of Eurobonds will facilitate the development of Georgia's securities market.

"We are pleased that the largest bank of Georgia will be the first to set up securities in the history of TBC history. 300 million US dollars attracted by TBC will be used for financing Georgian SMEs and will contribute to the growth of Georgian economy, "said TBC Bank's CEO, Vakhtang Butskhrikidze.

The leading ivestment banks of the world provide the following transaction: J.P. Morgan, Renaissance Capital and UBS Investment Bank, together with TBC Bank's subsidiary TBC Capital. Baker & McKenzie and Dentons Georgia operate as TBC Bank's legal advisers, while LATHAM & WATKINS and BGI Advisory Services Georgia are the interests of banks.