Lisi Development successfully placed first tranche of 20 million USD bonds with help of Galt & Taggart
JSC Lisi Development has successfully issued 20 million USD in bonds. The first tranche – 10 million USD in two-year bonds, was successfully placed on the stock exchange with the help of Galt & Taggart. The release of the second tranche is planned in the first half of 2023.
The mentioned transaction is the second successful joint placement for Lisi Development and Galt & Taggart, further contributing to the development of the capital market of Georgia.
The annual fixed rate of these bonds is 8.50%. The maturity period is 2 years and it will end on December 23, 2024. The placement agent for the said transaction is Galt & Taggart.
“Since 2018, this is the third placement of bonds on the Georgian stock exchange for our company, which once again indicates the stability of Lisi Development, the high degree of trust from investors and positive expectations towards the company. I would like to proudly note that despite the post-pandemic and global economic challenges, the successful placement is due to the highly professional team of Galt & Taggart and Lisi Development. I’d like to take this opportunity to thank them for their hard work,” said the General Director of Lisi Development, Nodar Adeishvili.
“I am pleased to note the role of Galt & Taggart in placing the first tranche of Lisi Development bonds. This transaction is the second joint placement of Lisi Development and Galt & Taggart, which shows both the credibility of Lisi Development and, in general, the growing confidence of investors towards similar transactions in Georgia. Together with our colleagues, I would like to congratulate the entire Galt & Taggart team on another success. Galt & Taggart has been effectively cooperating with various representatives of the private and public sector as well as international financial institutions in the Georgian market for years as an investment bank,” said Otar Sharikadze, the managing director of Galt & Taggart.