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title: "BGEO Group’s utility subsidiary issues GEL 30mln local currency bonds"
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12 Dec 2016

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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.

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