JSC Georgia Capital Priced Inaugural $300 Mln Offering

JSC Georgia Capital Priced Inaugural $300 Mln Offering

BGEO Group’s investment business holding company Georgia Capital successfully priced an inaugural $300 million offering. This is the first case in the history of Georgia, that a non-financial and non-state Georgian company issues international bonds worth of $300 mln. The interest rate of the bonds is 6.125% with a 6-year term – notes due march 2024.

Notes are denominated in us dollars and are expected to settle on 9 march 2018. It is expected that the notes shall be listed at Irish Stock Exchange and priced by S&P at (B+) rating and by Moody’s at (B2) level. The transaction will be led by J.P. Morgan, Citi and Renaissance Capital in cooperation with Galt & Taggart, with legal consultancy of Freshfields Bruckhaus Deringer LLP. Backer and McKenzie LLP will act as a legal consultant for Georgia Capital.

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