JSC “Nikora”, with the exclusive support of Galt & Taggart, successfully placed 60 million GEL bonds as the first tranche of the 120 million program. The interest rate of the bonds was set at three-month TIBR plus 3.50%, and the term was set at 5 years. It is noteworthy that the circle of bond investors is diverse and includes both private investors and local financial institutions and the Pension Fund of Georgia. The company will use the funds raised by the bonds for capital expenditures and refinancing of existing bonds.
It is noteworthy that JSC “Nikora Trade”, part of the group, is the first company in the field of trade, which in 2016, with the support of Galt & Taggart, successfully issued bonds worth 5 million USD on the local market.
“We are pleased to have completed another successful issue. Over the years, Nikora Group has maintained a high level of trust among customers and investors, which is reflected in its stable and dynamic growth from year to year. We are making intensive investments in the development of production capacities, retail network and logistics, in order to integrate the food supply chain and increase efficiency. We would like to thank Galt & Taggart for the work done and hope that we will have the opportunity to implement many more successful transactions together,” says Irakli Bokolishvili, General Director of JSC Nikora.
“The partnership with Nikora Group is of particular importance to us – it was with the support of Galt & Taggart that the company placed its first bonds years ago. We are proud that Nikora continues to be our partner on the path of growth and development and we are confident that together we will offer the market many interesting transactions in the future. The diversified circle of investors speaks of the high trust in the company and we congratulate Nikora on another successful transaction,” says Giorgi Kuprashvili, General Director of Galt & Taggart.
Nikora Group is one of the largest manufacturers and retailers in the food industry across the country. It was founded in 1998. The companies included in the company’s group operate in the areas of retail trade, food production, import and distribution of beverages and raw materials.
