Business
Posted: 1 year ago

Lisi Lake Development Issued $10 Million in Bonds

"Lisi Lake Development" announces the issuance of bonds of $20 million, with 2 issues of $10-$10 million. The issuer announced the placement of the first 2-year bonds of 10,000 pieces ($10 million). The rate is 8.5%, the nominal value is $10,000.

The placement agent is "Galt & Taggart". The securities will be placed in the B listing of the Georgian Stock Exchange (as you know, the issuing company (A, B listing) is encouraged by tax incentives, the dividend and interest are exempted from the 5% fee. There is an income allowance for the retail shareholder received from the sale. In addition (-20%), the corporate shareholder (legal entity) is exempted from profit tax, and the emission fee is 0%.

The bonds mature on December 23, 2024. The estimated period of the 2nd 10 million issue is the first half of 2023.

The pension agency is not going to invest in the mentioned bonds (it invests money in lower-risk securities at this stage).