BGEO Group’s utility subsidiary issues GEL 30mln local currency bonds

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s wholly owned utility and energy subsidiary, Georgia Global Utilities (“GGU”) has successfully placed a GEL30 million local currency bond for its’ water utility business unit, Georgian Water and Power LLC (“GWP”). The placement is the largest amount ever issued in local currency by a non-financial institution in Georgia. The bonds were issued with a 5 year tenor, with an annual coupon rate of National Bank of Georgia local currency refinancing rate plus 3.5%. The Group’s investment banking arm Galt & Taggart acted as a joint placement agent.