Bank of Georgia’s leasing subsidiary announces issuance of its debut bonds in Georgia

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces the successful closing of a US$10 million 3-year bond placement by the Bank’s wholly-owned leasing subsidiary Georgian Leasing Company LLC (GLC). The bond was issued at par and carries a coupon rate of 8.75%* payable semi-annually. Galt & Taggart, investment banking subsidiary of Bank of Georgia acted as placement agent for the deal.

“With its third local bond issue this year, I am pleased that our investment banking business – Galt and Taggart, continues to be at the forefront of the capital market development in Georgia. This transaction was met with considerable interest particularly from our wealth management clients who were attracted to high yields on the back of declining deposit rates on the market. I would like to congratulate both GLC and Galt and Taggart teams for the successful completion of this transaction,” commented Irakli Gilauri, CEO of Bank of Georgia.
*5% withholding tax applies to individuals

About Georgian Leasing Company (GLC)
GLC offers high quality leasing services in various business segments including transport, services and construction. The company’s main customers are small and medium-sized enterprises. GLC was the first company in Georgia to offer leasing services as an alternative method of financing to bank loans and was also the first company in the market to introduce products with a range of leasing terms (3 to 7 years).