29th Oct 2021 11:47
TBC Bank Group PLC - Tbilisi, Georgia-based lender - Prices USD75 million in Tier 1 capital perpetual subordinated notes at an 8.9% yield. Says the loans will further strengthen the bank's capital base and support growth and sustainable development. Notes the new issue has attracted solid demand from investors across Europe, the UK and the US.
"The book building followed a series of debt investor meetings and enjoyed strong investor appetite with an orderbook that peaked at over USD200 million, including a wide geographic distribution, represented by significant uptake in the UK, Switzerland and Europe", the bank comments.
The notes are expected to be listed on Euronext Dublin's Global Exchange Market on or about November 4.
Current stock price: 1,562.00 pence
Year-to-date change: up 25%
By Will Paige; [email protected]
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