Kakhetian Traditional Winemaking Issues USD 100 Million Bonds
JSC Galt & Taggart has secured the successful issuance of $ 10 million 2-year bonds of one of the largest wine and spirits companies in Georgia, Kakhetian Traditional Winemaking Ltd.
This is the first issue of "Kakhetian Traditional Winemaking", which shows the growing potential of the company.
The issuance of a public instrument with a fixed income is the first transaction for the Georgian wine and spirits market, therefore, "Kakhetian Traditional Winemaking" gives customers the opportunity for the first time to invest free cash in this sector. The annual fixed rate of securities is 9%. The company plans to list these securities on the Georgian Stock Exchange, as a result of which the bondholders will be fully exempt from taxes. The term of the bond is 2 years and it will be fully repaid on December 29, 2022.
"We are pleased with this successful debut in the Georgian securities market. The issuance of these bonds is an important step towards the diversification of the company's funding sources and the implementation of future strategies. The demand for bonds exceeded our expectations, which is very gratifying because it shows the high credibility of our company. I would also like to thank Galt & Taggart for their support in this process, ”said Zurab Chkhaidze, the founder and CEO of Kakhetian Traditional Winemaking.