Published: July 6, 2012
More than 50 institutions back eurobond.
Bank of Georgia (BoG) has issued a US$250mn eurobond to meet its funding needs.
The five-year unsecured notes were issued on a 7.75% coupon and will now trade on the London Stock Exchange.
Irakli Gilauri, Bank of Georgia’s chief executive, said the bank is pleased to have completed the deal in the current climate.
BoG appointed Credit Suisse, JP Morgan and Merrill Lynch International as the bond’s joint lead managers and bookrunners.
More than 50 institutions from various countries placed orders, including firms in the US, UK, Switzerland and Italy.
The bond was rated BB- by Fitch, Ba3 by Moody’s and BB- by Standard & Poor’s.