Bgeo Group PLC m2 Real Estate issues US$ 25 million bonds locally (2008S)
19 December 2016 - 6:12PM
UK Regulatory
TIDMBGEO
RNS Number : 2008S
Bgeo Group PLC
19 December 2016
London, 19 December 2016
BGEO Group's real estate subsidiary issues US$ 25 million bonds
locally
BGEO Group PLC (the "Group" or "BGEO"), announces that the
Group's wholly owned real estate subsidiary m(2) Real Estate ("m(2)
") has successfully placed US$ 25 million bonds into the local
market. The bonds were issued at par with a 3-year tenor and an
annual coupon rate of 7.5%, payable semiannually. The Group's
investment banking and brokerage subsidiary, Galt & Taggart,
acted as a placement agent. The proceeds are to be used for
refinancing m(2) 's existing bonds and financing planned real
estate development projects.
Irakli Gilauri, Group CEO commented: "I am pleased to see that
m(2) Real Estate continues to diversify its funding sources through
local capital market transactions. This is the fourth local bond
placement for m(2) Real Estate in the last two years. I am also
glad that Galt & Taggart, our investment banking and brokerage
subsidiary, continues to lead local capital market transactions and
has acted as a placement agent for this transaction. I want to
congratulate the teams of both, m(2) and Galt & Taggart, with
this successful placement."
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 of the Bank of Georgia has, as of the
date hereof, the following credit date hereof, the following credit
ratings: 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 CEO Head of Investor Relations
+995 322 444 109 +44 203 178 4034 +995 322 444 205
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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