Economy
Posted: 2 weeks ago

Galt&Taggart Places Georgian Leasing Company Bonds worth $12 Million and €3 Million

Galt&Taggart has successfully placed 2-year bonds of Georgian Leasing Company worth $12 million. Noteworthy, for the first time, EUR-denominated bonds of EUR3 million with a 2-year maturity were placed in Georgia.

This is the 6th and 7th issuances carried out by Georgian Leasing Company. These transactions amid the pandemic uncertainties prove that Georgian Leasing Company is a stable company and foreign investors trust it.

Georgian Leasing Company enables clients to invest their free financial resources in the company’s bonds. The annual fixed rate on USD-denominated bonds accounts for 5.75%, while the annual fixed interest rate for EUR-denominated bonds accounts for 4.75%. Both securities will mature in 2 years, on July 12, 2023. Noteworthy, the investor's demand has exceeded the issuance volume. Both placements were carried out by G&T.

“We are pleased that Georgian Leasing Company has carried out the new successful placement of bonds on the domestic market. The demand for the mentioned securities has exceeded our expectations and indeed, this fact proves the creditworthiness of our company and the high professionalism of Galt&Taggart. We are also proud that our cooperation continues for many years”, Georgian Leasing Company director general Eldar Akhvledinai noted.

“I am happy to hail Galt&Taggart’s role in the successful placement of Georgian Leasing Company’s bonds. This is an unprecedented placement with to the low coupon rate on USD-denominated bonds and the first placement of EUR-denominated bonds. I congratulate the team of Galt&Taggart that it has become Georgia’s leading supplier of investment-banking services thanks to its experienced and professional”, Galt&Taggart managing director Otar Sharikadze said.