BOG's leasing subsidiary issues debut bonds

Released : 25 Sep 2014 14:08

RNS Number : 6309S
Bank of Georgia Holdings PLC
25 September 2014
 

 

 

London, 25 September 2014

Bank of Georgia's leasing subsidiary announces issuance of its debut bonds in Georgia

Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank announces the successful closing a US$10 million 3-year bond placement by the Bank's wholly-owned leasing subsidiary Georgian Leasing Company LLC (GLC). The bond was issued at par and carries a coupon rate of 8.75%* payable semi-annually. Galt & Taggart, investment banking subsidiary of Bank of Georgia acted as placement agent for the deal.

 

"With its third local bond issue this year, I am pleased that our investment banking business - Galt and Taggart, continues to be at the forefront of the capital market development in Georgia. This transaction was met with considerable interest particularly from our wealth management clients who were attracted to high yields on the back of declining deposit rates on the market. I would like to congratulate both GLC and Galt and Taggart teams for the successful completion of this transaction," commented Irakli Gilauri, CEO of Bank of Georgia.

 

*5% withholding tax applies to individuals

 

About Georgian Leasing Company (GLC)

GLC offers high quality leasing services in various business segments including transport, services and construction. The company's main customers are small and medium-sized enterprises. GLC was the first company in Georgia to offer leasing services as an alternative method of financing to bank loans and was also the first company in the market to introduce products with a range of leasing terms (3 to 7 years).

 

 

 

 

About Bank of Georgia Holdings PLC

Bank of Georgia Holdings PLC is a UK-incorporated holding company of Bank of Georgia. Bank of Georgia is the leading Georgian bank, based on total assets (with a 32.8% market share), total loans (with a 31.6% market share) and client deposits (with a 29.0% market share) as of 30 June 2014, all data based on standalone financial information filed by banks in Georgia with the National Bank of Georgia. The Bank offers a broad range of corporate banking, retail banking, wealth management, brokerage and insurance and healthcare services to its clients. As of 30 June 2014, the Bank served approximately 1.3 million client accounts through one of the largest distribution networks in Georgia, with 206 branches, the country's largest ATM network, comprising 510 ATMs, 2,038 Express pay (self-service) terminals and a full-service remote banking platform and a modern call center.

 

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's

'BB-/B'


FitchRatings

'BB-/B'


Moody's

'B1/NP' (FC) & 'Ba3/NP' (LC)


For further information, please visit www.bgh.co.uk, www.bog.ge/ir or contact: 

Irakli Gilauri

Nikoloz Gamkrelidze

Macca Ekizashvili

Chief Executive Officer

Deputy CEO, Finance

Head of Investor Relations

+995 322 444 109

+995 322 444 126

         +995 322 444 256

igilauri@bog.ge

ngamkrelidze@bog.ge

          ir@bog.ge

 

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities


This information is provided by RNS
The company news service from the London Stock Exchange
 
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