ADB invests $6.7 mln in bond issuance of Georgian leading hospital provider

The ADB is investing 19.5 million Georgian lari ($6.7 mln/€6. mln) in corporate bonds of JSC Evex Hospitals, the leading hospital provider in Georgia owned by the London Stock Exchange-listed Georgia Healthcare Group PLC.

The proceeds of the issuance, combined with the company’s internal accrual, will refinance some of Evex Hospitals’ debt and support the company to achieve better operational efficiency, quality of services, and governance,” says the ADB.

The value of total bond issuance by Evex Hospitals is 50 million GEL ($17.2/€15.4).

This investment supports Georgia’s universal health care program to provide access to better health care for Georgians…It also highlights ADB’s continued support for capital market development in Georgia, especially through the deepening of its corporate debt securities and local currency bond market. We are delighted to support dual efforts to develop the capital market and to invest in the country’s human capital,” said ADB Country Director for Georgia Shane Rosenthal.

The ADB has supported Georgia since 2007. As of today, sovereign and non-sovereign loans from the ADB to Georgia amounts to $3.5 billion.