Bgeo Group PLC BOG issues a GEL 21 million 2-year global note (9192Q)
05 December 2016 - 6:46PM
UK Regulatory
TIDMBGEO
RNS Number : 9192Q
Bgeo Group PLC
05 December 2016
London, 5 December 2016
JSC Bank of Georgia issues a GEL 21 million 2-year global
note
BGEO Group PLC (the "Group" or "BGEO"), a Georgia focused
investment platform, announces that its banking subsidiary, JSC
Bank of Georgia (the "Bank" or "BOG"), has issued a 2-year local
currency linked internationally clearable global note in the amount
of GEL 21.0 million settled in US$. The note has been issued
through a private placement at par, pays an 8.0% coupon annually
and matures on 5 December 2018.
The issuance of this GEL-linked global note is the first such
transaction done in the country. It enables the Bank to further
diversify its sources of funding. Furthermore, it provides overseas
investors increased access to local currency notes issued by the
private sector. The issuance of this note builds on the Bank's
previous local currency linked bond transactions, and serves BOG's
purpose to attract increasingly more local currency funds.
Name of authorised official of issuer responsible for making
notification: Ekaterina Shavgulidze, Head of Investor Relations and
Funding
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO" or the "Group" - LSE: BGEO LN)
is a UK incorporated holding company of a Georgia-focused
investment platform. BGEO invests in the banking and non-banking
sectors in Georgia (BGEO and its subsidiaries, the "Group"). BGEO
aims to deliver on a 4x20 strategy: at least 20% ROAE and at least
20% growth of retail loan book in Banking Business, and at least
20% IRR and up to 20% of the Group's profit from Investment
Business.
Banking Business: Our Banking Business comprises at least 80% of
the Group's profit and consists of Retail Banking, Corporate
Banking and Investment Management businesses at its core and other
banking businesses such as P&C Insurance, Leasing, Payment
Services and Banking operations in Belarus ("BNB"). The Group
strives to benefit from the underpenetrated banking sector in
Georgia especially through its Retail Banking services. JSC Bank of
Georgia ("BOG" or the "Bank") is the main entity in the Group's
Banking Business.
Investment Business: Our Investment Business comprises up to 20%
of the Group's profit and consists of Georgia Healthcare Group
(Healthcare Business) - an LSE (London Stock Exchange PLC) premium
listed company, m2 Real Estate (Real Estate Business), Georgia
Global Utilities (Utility Business or GGU) and Teliani Valley
(Beverage Business). Georgia's fast-growing economy provides
opportunities in a number of underdeveloped markets and the Group
is well positioned to capture growth opportunities in the Georgian
corporate sector.
JSC BGEO Group has, as Bank of Georgia has, as
of the date hereof, the of the date hereof, the
following credit ratings: following credit ratings:
Fitch Ratings 'BB-/B' Fitch Ratings 'BB-/B'
Moody's B1/NP (FC) Moody's 'B1/NP' (FC)
& B1/NP (LC) & 'Ba3/NP'
(LC)
For further information, please visit www.bgeo.com or
contact:
Irakli Gilauri Michael Oliver Ekaterina (Eka)
Shavgulidze
Group CEO Adviser to the Head of Investor
CEO Relations
+995 322 444
+995 322 444 109 +44 203 178 4034 205
igilauri@bog.ge moliver@bog.ge eshavgulidze@bog.ge
This news report is presented for general informational purposes
only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
This information is provided by RNS
The company news service from the London Stock Exchange
END
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