Bgeo Group PLC Georgia Capital to consider Bond issuance (9813E)
15 February 2018 - 7:20PM
UK Regulatory
TIDMBGEO
RNS Number : 9813E
Bgeo Group PLC
15 February 2018
London, 15 February 2018
Georgia Capital mandates Banks to consider Bond issuance
BGEO Group PLC (the "Group" or "BGEO"), announces that its
investment business holding company, JSC Georgia Capital, has
mandated a number of investment banks to consider the potential
issuance of a Eurobond. There can be no certainty that a
transaction will take place and a further announcement will be
made, if appropriate, in due course.
Irakli Gilauri, BGEO CEO commented: "The Board of BGEO announced
earlier this week that it had approved the implementation of the
proposed demerger of BGEO Group into two separately London-listed
businesses: Bank of Georgia PLC and Georgia Capital PLC. Following
this announcement, Georgia Capital is considering the best ways to
optimise its balance sheet flexibility and capital structure ahead
of the demerger and will explore the option of issuing a US dollar
denominated Eurobond."
Name of authorised official of issuer responsible for making
notification: Giorgi Alpaidze, Group CFO
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK
incorporated holding company of a Georgia-focused investment
platform. BGEO invests, via its subsidiaries, in the banking and
non-banking sectors in Georgia (BGEO and its subsidiaries, together
the "Group"). BGEO aims to deliver on its strategy of: (1) at least
20% ROAE from its Banking Business; (2) 15%-20% growth of its
Banking Business loan book; (3) at least 25% IRR; and (4) up to 20%
of the Group's profit from its Investment Business. On 3 July 2017
BGEO announced its intention to demerge BGEO Group PLC into a
London-listed banking business (the "Banking Business") and a
London-listed investment business (the "Investment Business") by
the end of the first half of 2018.
Banking Business: Currently comprises: a) retail banking and
payment services, b) corporate investment banking and wealth
management operations and c) banking operations in Belarus ("BNB").
JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the
Group's Banking Business. The Banking Business will continue to
target to benefit from the underpenetrated banking sector in
Georgia primarily through its retail banking services.
Investment Business: Currently comprises the Group's stakes in
Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an
LSE (a London Stock Exchange) premium-listed company, Georgia
Global Utilities ("Utility and Energy Business" or "GGU"), m(2)
Real Estate ("Real Estate Business" or "m(2) "), Teliani Valley
("Beverage Business" or "Teliani") and Aldagi ("Property and
Casualty Insurance Business" or Aldagi"). Georgia's fast-growing
economy provides opportunities in a number of underdeveloped local
markets and the Investment Business will target 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 'Ba3/NP' (FC)
& B1/NP (LC) & 'Ba2/NP'
(LC)
For further information, please visit www.bgeo.com or
contact:
Irakli Gilauri Michael Oliver Giorgi Alpaidze
Group CEO Adviser to the Group CFO
CEO
+995 322 444 109 +44 203 178 4034 +995 322 444 190
igilauri@bgeo.com moliver@bgeo.com g.alpaidze@bgeo.com
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
IODUVAWRWBAUARR
(END) Dow Jones Newswires
February 15, 2018 03:20 ET (08:20 GMT)
Bank Of Georgia (LSE:BGEO)
Historical Stock Chart
From Apr 2024 to May 2024
Bank Of Georgia (LSE:BGEO)
Historical Stock Chart
From May 2023 to May 2024