25th Sep 2014 13:21
LONDON (Alliance News) - Bank of Georgia Holdings PLC, the holding company of JSC Bank of Georgia, Thursday reported the closing of a USD10 million three-year bond placement by leasing subsidiary Georgian Leasing Company LLC.
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, according to a statement issued by the holding company.
"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," Bank of Georgia Chief Executive Irakli Gilauri said in a statement.
"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," Gilauri added.
Bank of Georgia shares were Thursday quoted down 0.4% at 2,425.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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