Georgia Capital Launches USD250 Million Green Bonds Offering
Georgia Global Utilities, a holding company of Georgia Capital Investment Company, has placed international Green bonds of 250 million USD. The company manages water, sewage, and energy sector assets.
The yield on green bonds accounts for 7.75%. The maturity period is 5 years.
“I am happy to announce the GGU’s successful deal. This is the First Green Bonds from Georgia. Investors showed much interest in the deal. Issuance of bonds essentially improves the financial profile of GGU and liquidity and promotes the healthy development of business. I would like to thank our old international partners – DEG and FMO, ADB. I also congratulate the GGU team on this success”, Georgia Capital director general Irakli Gilauri noted.
Bonds will be issued and sold for a nominal price. Proceeds from sales of bonds will finance water supply and fixed assets in the sanitation sector.
Bonds will be placed onto the Irish Stock Exchange and will be estimated with B+ (Stable) rating by Fitch and B (positive) rating by S&P.
The placement agent is JP Morgan. TBC Capital is a co-manager.