Georgia Capital announces issuance of $300 million 6.125% notes

On Monday March 5, BGEO Group PLC’s investment business holding company, JSC Georgia Capital (Georgia Capital) successfully priced an inaugural US$ 300 million offering of 6.125% notes due March 2024 (the Notes). The Notes are denominated in US Dollars and are expected to settle on 9 March 2018. The Regulation S/ Rule 144A senior unsecured Notes are being issued and sold at an issue price of 98.770%. J.P. Morgan and Citi are acting as Joint Bookrunners and Joint Lead Managers for the Notes, Renaissance Capital is acting as a Joint Lead Manager and Galt & Taggart is acting as a Co-Manager. Freshfields Bruckhaus Deringer LLP and Baker & McKenzie LLP are acting as legal advisors to the Joint Lead Managers and Georgia Capital, respectively. The Notes are expected to be listed on the Global Exchange Market of the Irish Stock Exchange and to be rated B+ (S&P) and B2 (Moody's). On closing, the issuance is expected to be the first international bond offering by a non-banking, non-state-backed company from Georgia.