TBC Bank Group PLC TBC and Responsibility sign USD 10mln Loan Agrmt (2649G)
22 Luglio 2019 - 10:17AM
UK Regulatory
TIDMTBCG
RNS Number : 2649G
TBC Bank Group PLC
22 July 2019
TBC Bank and Responsibility sign USD 10 Million Loan
Agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank"), has signed a loan agreement in the
amount of USD 10 million with ResponsAbility Investments AG. The
facility will primarily be used to finance small and medium size
enterprises in Georgia.
The transaction is a part of an international USD 175 million
blended impact finance securitization to SME finance institutions
in emerging markets, managed by the international asset manager
ResponsAbility. The transaction allows TBC Bank to service more of
its SME customers, while allowing large-scale investors access to a
unique pool of assets that offer both attractive returns and an
engagement in impact investments.
"We are delighted to participate in another exciting project
with our long-standing partner ResponsAbility, alongside other
impact-aware financial institutions around the world. The
transaction allows high-quality investors access to a range of
entrepreneurial projects and is proof of the financial world's
increasing focus on thoughtful investing to ensure benefit for all
stakeholders. We are proud to facilitate access to some of the
newest and most exciting projects in Georgia and be at the
forefront of our country's sustainable development", commented
Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.
"This securitization shows that the fast-growing microfinance
and SME finance space in emerging markets has now reached a
maturity that allows it to access financing from mainstream capital
markets", commented Thomas Müller, Co-Head Financial Institutions
Debt at ResponsAbility.
JP Morgan acted as the arranger and placement agent of
securitization, and US Government agency Overseas Private
Investment Agency (OPIC) provided the base capital to initiate
participation from private institutional investors. Other investors
include US based impact investor Calvert Impact Capital, and
Swedish occupational pension provider, Alecta.
About ResponsAbility
ResponsAbility Investments AG is an asset manager in the field
of development investments and offers professionally-managed
investment solutions to private, institutional and public
investors. Based in Zürich, Switzerland, ResponsAbility Investments
AG is one of the world's leading asset managers in the field of
development investments. It was established in 2003 and has
investments in 90 countries. ResponsAbility Investments AG has USD
3 bn assets under its management.
For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank and TBC Bank Group PLC ("TBC PLC")
TBC PLC is a public limited company registered in England and
Wales that was incorporated in February 2016. TBC PLC became the
parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC
PLC is listed on the premium segment of London Stock Exchange under
the symbol TBCG and is a constituent of FTSE 250 Index.
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
38.4% of loans and 40.4% of non-banking deposits as at 31 March
2019, according to data published by the National Bank of
Georgia.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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