5th Dec 2016 07:45
LONDON (Alliance News) - Bgeo Group PLC on Monday said its banking subsidiary has issued a two-year currency-linked GEL21.0 million global debt note through a private placement at par, equal to around GBP6.5 million.
The investment platform said the note pays an 8.0% coupon annually and matures on December 5, 2018.
The issuance of the note is "the first such transaction" done in Georgia, Bgeo said, and enables its subsidiary to further diversify its sources of funding.
Bgeo said the note also provides overseas investors increased access to local currency notes issued by the private sector and builds on its subsidiary's previous local currency-linked bond transactions.
By Hannah Boland; [email protected]; @Hannaheboland
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