PM Bakhtadze on Georgian companies’ Eurobond issues:
“I wish these transactions took place on our capital market”

  • PM Bakhtadze said that it was important to him that the apparent demand had proved much higher than that initially indicated by Georgian companies. Photo: Gov't of Georgia.
     

Agenda.ge, 28 Mar 2019 - 18:56, Tbilisi,Georgia

Georgian Prime Minister Mamuka Bakhtadze praised the recent activities of the Bank of Georgia and Silknet telecommunication company on the international financial market and said the fact that Georgian companies are attracting new finances into the Georgian economy is indicative of the high level of trust of international investors in Georgia.

The Bank of Georgia has recently attracted $100 million in hybrid capital, while Silknet has priced a debut $200 million 5-year 11% senior unsecured bonds issue on March 27.

The notes were taken up by investors from a wide range of geographies. The notes are expected to be rated B1 by Moody’s and B+ by Fitch, in line with Silknet’s long-term issuer credit rating”, said Silknet.

The notes are expected to be listed on the Global Exchange Market of Euronext Dublin.

Bakhtadze said that it was important to him that the apparent demand had proved much higher than that initially indicated by Georgian companies.

This means that international investors' trust in Georgia, its legislative framework and economic prospects, is very high. It is not an episodic achievement. These are international investors' expectations for Georgia. I wish these transactions took place in our capital market”, Bakhtadze stated.

Bakhtadze added that he is convinced that the reform to be implemented by the government will enable Georgian companies to attract capital not only from international platforms, but also from the Georgian capital market.

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