Bgeo Group PLC JSC Bank of Georgia debt issuance (2066G)
25 May 2017 - 4:05PM
UK Regulatory
TIDMBGEO
RNS Number : 2066G
Bgeo Group PLC
25 May 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. IN
PARTICULAR, NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR
INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES,
ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR
THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S.
PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED).
25 May 2017
JSC BANK OF GEORGIA ANNOUNCES ISSUANCE OF GEL 500,000,000 11.00%
NOTES DUE 2020
On Wednesday May 24, BGEO Group PLC's banking business
subsidiary, JSC Bank of Georgia (the Bank) successfully priced an
inaugural GEL 500 million offering of 11.00% notes due June 2020
(the Notes). The Notes are denominated in GEL and are expected to
settle on 1 June 2017. The Reg S/ Rule 144A senior unsecured Notes
are being issued and sold at an issue price of 100.00%. J.P. Morgan
and Renaissance Capital are acting as Joint Bookrunners for the
Notes, and Galt & Taggart is acting as a Co-Manager. Dechert
LLP and Baker & McKenzie LLP are acting as legal advisors to
the Joint Bookrunners and the Bank, respectively. The Notes are
expected to be listed on the Irish Stock Exchange and to be rated
BB- (Fitch) and Ba3 (Moody's). On closing, the issuance is expected
to be the first international local currency bond offering from the
wider CIS region (excluding Russia) in the past ten years and
represent a landmark transaction for Georgia.
Disclaimer
In the European Economic Area, with respect to any Member State
that has implemented Directive 2003/71/EC and Directive 2010/73/EU
(together with any applicable implementing measures in any Member
State, the "Prospectus Directive"), this Announcement is only
addressed to and is only directed at qualified investors
("Qualified Investors") in that Member State within the meaning of
Artcile2(1)(e) of the Prospectus Directive.
The securities referred to herein have not been and will not be
registered under the US Securities Act of 1933, as amended (the
"Securities Act"), or with any securities regulatory authority of
any state or other jurisdiction of the United States, and may not
be offered or sold in the United States or to US persons (as such
term is defined in Regulation S under the Securities Act) except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the US Securities Act. The issuer
of the securities has not registered, and does not intend to
register, any portion of the offering in the United States, and
does not intend to conduct a public offering of the securities in
the United States.
This Announcement is not intended to, and shall not, constitute
or contain an offer to sell or solicitation of an offer to purchase
the securities referred to herein by any person in any jurisdiction
where it is unlawful to make an offer or solicitation. The
distribution of the Announcement and the offer or sale of the
securities referred to herein in certain jurisdictions is
restricted by law. This Announcement may not be used for or in
connection with, and does not constitute, any offer to, or
solicitation by, anyone in any jurisdiction or under any
circumstance in which such offer or solicitation is not authorised
or is unlawful.
In the United Kingdom ("UK"), this Announcement is being
distributed only to, and is directed only at, Qualified Investors
(i) who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005, as amended
(the "Order") and Qualified Investors falling within Article 49 of
the Order, and (ii) to whom it may otherwise be lawfully
communicated (all such persons together being referred to as
"relevant persons"). Any investment or investment activity to which
this Announcement relates is available only to relevant persons and
will be engaged in only with relevant persons. Any person who is
not a relevant person should not act or rely on this Announcement
or any of its contents.
Name of authorised official of issuer responsible for making
notification: Giorgi Alpaidze, Head of Investor Relations
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 Giorgi Alpaidze
Group CEO Adviser to the Head of Investor
CEO Relations
+995 322 444
+995 322 444 109 +44 203 178 4034 444 (ext. 3979)
igilauri@bog.ge moliver@bog.ge g.alpaidze@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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