Bank of Georgia Group PLC BOG signs c.GEL 28mln loan agreement with EBRD (4133F)
15 Luglio 2019 - 08:00AM
UK Regulatory
TIDMBGEO
RNS Number : 4133F
Bank of Georgia Group PLC
15 July 2019
London, 15 July 2019
JSC Bank of Georgia signs c.GEL 28 million 5-year loan agreement
with EBRD
Bank of Georgia Group PLC ("the Group") announces that JSC Bank
of Georgia (the "Bank" or "Bank of Georgia") and the European Bank
for Reconstruction and Development ("EBRD") have signed a c.GEL 28
million loan agreement with a maturity of 5 years. The facility
aims to continue to provide the micro, small and medium sized
enterprises the access to increasingly demanded local currency
funding and to further support their alignment with the European
Union's Deep and Comprehensive Free Trade Agreement requirements.
EBRD obtained the local currency funds through a private placement
of GEL-denominated bonds arranged by Galt & Taggart - a wholly
owned brokerage subsidiary of the Group. The local currency
facility was designed to facilitate on-lending to the Bank's
clients solely in Georgian Lari.
Archil Gachechiladze, Bank CEO commented: "I am very pleased to
see that EBRD has continued to be Bank of Georgia's strong and
reliable partner in providing local currency funding for our micro,
small and medium sized business clients. This is our second
cooperation with EBRD on a Georgian Lari denominated facility after
a major success of our first 2-tranche programme in local currency
launched in 2016. While de-dollarisation of the Georgian economy is
gaining speed and scale, the local currency facilities of this kind
are increasingly essential for us to continue to offer the most
needed financial products to our business clients. We look forward
to working with EBRD on many more successful local currency deals
in the future."
Name of authorised official of issuer responsible for making
notification: Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services, b) corporate and
investment banking and wealth management operations and c) banking
operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of
Georgia", "BOG" or the "Bank"), the leading universal bank in
Georgia, is the core entity of the Group. The Group targets to
benefit from superior growth of the Georgian economy through both
its retail banking and corporate and investment banking services
and aims to deliver on its strategy, which is based on at least 20%
ROAE and c.15% growth of its loan book.
JSC Bank of Georgia has, as of
the date hereof, the following
credit ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba3/NP' (FC)
& 'Ba2/NP' (LC)
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Archil Gachechiladze Michael Oliver Sulkhan Gvalia Natia Kalandarishvili
CEO Adviser to the CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (9282)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
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END
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