On August 29, 2017, Georgian Leasing Company (GLC) completed a successful public placement of 3-year USD 10 million bonds, with the unprecedented low coupon rate for the Georgian market. Galt & Taggart acted as the placement agent.
Proceeds from the USD-denominated bonds, with a maturity of 3 years, will be used to fully refinance existing bonds. The annual coupon rate of the securities was set at 7%, 1.75 percentage points lower compared to previous issuance (September 2014).
“This is our second successful bond issuance. High demand for the bonds once again confirms GLC’s high reliability and expertise of “Galt & Taggart”. Bond market enables us to enhance our financial flexibility by diversifying our funding sources and we will continue to use this financial instrument in future as well”, – stated General Director of “Georgian Leasing Company”, Eldar Akhvlediani.
“I am pleased to point out Galt & Taggart’s role in the successful bond issuance by Georgian Leasing Company for the second time. The investor community revealed a great deal of interest, which led the coupon rate to the unprecedented low rate for the Georgian market. I would like to congratulate the entire Galt & Taggart team, which has become the leading provider of investment banking services in the country to private and public companies as well as international financial institutions,” commented Otari Sharikadze, Managing Director of Galt & Taggart.
The company’s first issuance was in the amount of 10 million USD in September 2014.
For inquiries please contact Galt & Taggart at gt@gt.ge.
