Georgia Healthcare Group PLC Issuance of bonds by healthcare services business (2139L)
17 July 2017 - 4:00PM
UK Regulatory
TIDMGHG
RNS Number : 2139L
Georgia Healthcare Group PLC
17 July 2017
London, 17 July 2017
GHG announces issuance of GEL 90 million bonds due 2022 by its
healthcare services business
Georgia Healthcare Group PLC ("GHG" or the "Group"), announces
that its healthcare services business, JSC Evex Medical Corporation
("Evex"), has completed the private placement of GEL 90 million
local bonds due 2022 (the "Bonds"). JSC Galt & Taggart acted as
a placement agent for the Bonds. The Bonds were priced at an issue
price 100% of their principal amount on 12 July 2017. They carry a
floating coupon rate of 350 basis points premium over the National
Bank of Georgia Monetary Policy (refinancing) Rate. The proceeds
will be used to refinance borrowings from local commercial banks,
which are a relatively more expensive source of funding, and also
to fund planned ongoing capital expenditures.
"I am very pleased that Evex has completed another landmark
transaction demonstrating our superior access to capital. I am glad
that the transaction was met with considerable interest from
investors, and we completed the largest private placement of any
corporate (other than commercial banks) in local currency ever done
in Georgia. The issuance helps us to further build a longer-term,
less expensive funding profile and contributes to the successful
implementation of our strategy" commented Nikoloz Gamkrelidze, CEO
of Georgia Healthcare Group.
Name of authorised official of issuer responsible for making
notification:
Ekaterina Shavgulidze, Head of Investor Relations
About Georgia Healthcare Group PLC
Georgia Healthcare Group PLC is a UK incorporated holding
company of the largest healthcare services provider in the
fast-growing, predominantly privately-owned, Georgian healthcare
services market. GHG's leadership position is underpinned by
offering the most comprehensive range of inpatient and outpatient
services targeting the mass market segment through its vertically
integrated network of 35 hospitals and ten ambulatory clusters
(consisting of 13 district ambulatory clinics and 28 express
ambulatory clinics), as at 31 March 2017. GHG is the single largest
market participant, accounting for 23.4% of total hospital bed
capacity in the country, as of 31 March 2017. From January 2017,
GHG become the largest pharmaceuticals retailer and wholesaler in
Georgia, with approximately 29% market share based on 31 December
2015 revenue figures. GHG is also the largest provider of medical
insurance in Georgia with a 35.3% market share based on net
insurance premiums earned and approximately 135,000 insurance
customers as at 31 March 2017. GHG employed a total of c.14,600
people as at 31 March 2017, including c.3,300 physicians.
For further information, please visit www.ghg.com.ge or
contact:
Nikoloz Gamkrelidze Irakli Gogia Ekaterina (Eka)
Shavgulidze
CEO CFO Head of Investor
Relations
+995 322 550505 +995 322 550505 +995 322 444
(5077) (5088) 205
ngamkrelidze@ghg.com.ge irakligogia@ghg.com.ge ir@ghg.com.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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