Bank of Georgia Group PLC BOG signs US$107mln subordinated club facility (1472X)
December 17 2019 - 5:20AM
UK Regulatory
TIDMBGEO
RNS Number : 1472X
Bank of Georgia Group PLC
17 December 2019
London, 17 December 2019
JSC Bank of Georgia signs a US$107 million subordinated club
facility agreement
Bank of Georgia Group PLC announces that its subsidiary, JSC
Bank of Georgia (the "Bank" or "Bank of Georgia") has signed a
ten-year US$107 million subordinated syndicated loan agreement (the
"Facility") arranged by FMO - Dutch entrepreneurial development
bank (FMO) in collaboration with other participating lenders
including DEG - Deutsche Investitions- und
Entwicklungsgesellschaft, the Finnish Fund for Industrial
Cooperation Ltd., Obviam, on behalf of the Swiss Investment Fund
for Emerging Market (SIFEM), the Swedish Development Finance
Institution - Swedfund International AB, BlueOrchard Microfinance
Fund (BOMF) and Symbiotics Group. The Facility is expected to be
treated as a Bank Tier 2 capital instrument (upon disbursement and
approval of the National Bank of Georgia) under the Basel III
framework recently introduced in Georgia and will further improve
the overall capitalisation of the Bank.
Archil Gachechiladze, Bank of Georgia CEO commented: "I am
pleased to see that our long-standing and very successful
partnership with FMO has now extended to this substantial
transaction, this time with a subordinated Tier 2 loan facility,
which will help us further improve our capital position under the
Basel III regulations. I would like to thank FMO for arranging the
deal in cooperation with our existing and new partner financial
institutions, who I would also like to thank for assisting us in
our efforts to diversify our capital structure, maintain a strong
capital position and remain a leading lender in the country".
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
This news report is presented for general informational purposes
only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
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END
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