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.
