Georgia placed USD 500 million Eurobonds on the London Stock Exchange

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28 November 2024, 21:40

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Georgia placed USD 500 million Eurobonds on the London Stock Exchange

16-04-2021 12:03

Georgian Finance Minister Lasha Khutsishvili announced that Georgia has issued USD 500 million of Eurobonds with a 5-year maturity on the London Stock Exchange, 3 days after repaying its ten-year obligations of 2011 in the same amount.

At a coupon rate of 2.75%, the securities are set to save the Georgian budget some GEL 350 million in interest payments compared to the 2011 Eurobonds that yielded 6.875%, the Finance Minister added.

The Ministry held the preparatory stage for placement the Eurobond on the London Stock Exchange together with selected international and local investment banks (JP Morgan, Goldman Sachs, ICBC Standard, TBC Capital and Galt & Taggart), legal advisors (Backer & McKenzie and BLC) and international fiscal agent (Citi).

Online meetings (so-called net-road-shows) with international investors was held on April 13 and 14.

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