BOG's real estate subsidiary issues bonds

Released : 17 Mar 2015 07:00

RNS Number : 5962H
Bank of Georgia Holdings PLC
17 March 2015

 London, 17 March 2015



Bank of Georgia's real estate subsidiary issues US$20 mln bonds


Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank announces the successful completion of a US$20 million 2-year bond placement by the Bank's wholly-owned real estate subsidiary m2 Real Estate. The bond was issued at par and carries a coupon rate of 9.5% payable semi-annually. The deal is expected to close on 20 March 2015. Galt & Taggart, the investment banking subsidiary of Bank of Georgia acted as placement agent for the deal.

"I am delighted that corporate bond issuance in Georgia continues to gain ground under the leadership of Galt & Taggart, in line with our strategy to generate fee and commission income from our banking business. This is the largest ever non-IFI corporate issuance and the third bond placement for m2 Real Estate in less than 12 months. The transaction was met with considerable interest particularly from our wealth management clients who were attracted to high yields on the back of lower deposit rates in Georgia," commented Irakli Gilauri, CEO of Bank of Georgia.




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 35.5% market share), total loans (with a 34.9% market share) and client deposits (with a 31.5% market share) as of 31 December 2014, all data based on standalone financial information filed by banks in Georgia with the National Bank of Georgia and includes Privatbank's market shares. The Bank offers a broad range of corporate banking, retail banking, wealth management, brokerage and insurance and healthcare services to its clients. As of 31 December 2014, the Bank served approximately 1.5 million client accounts through one of the largest distribution networks in Georgia, with 219 branches, the country's largest ATM network, comprising 523 ATMs, 2.239 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





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

For further information, please visit, or contact: 

Irakli Gilauri

Murtaz Kikoria

Ekaterina Shavgulidze

Chief Executive Officer

Deputy CEO, Finance

Head of Investor Relations

+995 322 444 109

+995 322 444 126

         +995 322 444 117


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


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