|
Georgia Capital PLC - Tbilisi-based investor focusing on domestic businesses in Georgia - Says its Georgian holding company, JSC Georgia Capital has launched a $150 million sustainability-linked bond offering on the Georgian market. Also launches an invitation to purchase all of its outstanding $300 million Eurobonds for cash, if the planned local market notes issuance is completed. The company says that this will reduce Georgia Capital’s leverage, and notes that a total $84 million of the existing $300 million has already been repurchased. Georgia Capital says the sustainability-linked bonds will decrease its gross debt balance to $150 million from $300 million, supported by the substantial growth in cash dividend income from the portfolio companies, and will support the development of the local capital market. JSC Georgia Capital also launches a tender offer of its outstanding $300 million 6.125% notes due in 2024 for cash subject to restrictions, which it says is needed to deleverage and extend debt maturity. Chair and Chief Executive Officer Irakli Gilauri said: ‘The issuance of sustainability-linked bonds will make a substantial contribution to the development of the local capital market and support the transition towards a more sustainable and lower carbon economy in Georgia.’ Current trading share: 855.00 pence, down 1.5% 12-month change: up 46% Copyright 2023 Alliance News Ltd. All Rights Reserved
|
