Economy
Posted:
3 years ago
GOGC Refinances Eurobonds of $250 Million
JSC Georgian Oil and Gas Corporation (GOGC) has refinanced Eurobonds of $250 million at London Stock Exchange (LSE).
As reported, the Eurobonds were placed at LSE in 2016. The securities were refinanced with the financial component allocated to Georgia as part of the loan agreement with the European Bank for Reconstruction and Development (EBRD).
As a result, on April 26, the GOGC Eurobonds were fully covered. GOGC signed the 10-year loan agreement in September 2020. Thanks to the new transaction, Eurobonds’ annual interest costs have been essentially reduced.