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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bank Of Georgia Group Plc | LSE:BGEO | London | Ordinary Share | GB00BF4HYT85 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-365.00 | -7.17% | 4,725.00 | 4,705.00 | 4,725.00 | 5,120.00 | 4,595.00 | 5,110.00 | 271,117 | 16:35:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBGEO
RNS Number : 2008S
Bgeo Group PLC
19 December 2016
London, 19 December 2016
BGEO Group's real estate subsidiary issues US$ 25 million bonds locally
BGEO Group PLC (the "Group" or "BGEO"), announces that the Group's wholly owned real estate subsidiary m(2) Real Estate ("m(2) ") has successfully placed US$ 25 million bonds into the local market. The bonds were issued at par with a 3-year tenor and an annual coupon rate of 7.5%, payable semiannually. The Group's investment banking and brokerage subsidiary, Galt & Taggart, acted as a placement agent. The proceeds are to be used for refinancing m(2) 's existing bonds and financing planned real estate development projects.
Irakli Gilauri, Group CEO commented: "I am pleased to see that m(2) Real Estate continues to diversify its funding sources through local capital market transactions. This is the fourth local bond placement for m(2) Real Estate in the last two years. I am also glad that Galt & Taggart, our investment banking and brokerage subsidiary, continues to lead local capital market transactions and has acted as a placement agent for this transaction. I want to congratulate the teams of both, m(2) and Galt & Taggart, with this successful placement."
Name of authorised official of issuer responsible for making notification: Ekaterina Shavgulidze, Head of Investor Relations and Funding.
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, the "Group"). BGEO aims to deliver on a 4x20 strategy: at least 20% ROAE and at least 20% growth of retail loan book in Banking Business, and at least 20% IRR and up to 20% of the Group's profit from Investment Business.
Banking Business: Our Banking Business comprises at least 80% of the Group's profit and consists of Retail Banking, Corporate Banking and Investment Management businesses at its core and other banking businesses such as P&C Insurance, Leasing, Payment Services and Banking operations in Belarus ("BNB"). The Group strives to benefit from the underpenetrated banking sector in Georgia especially through its Retail Banking services. JSC Bank of Georgia ("BOG" or the "Bank") is the main entity in the Group's Banking Business.
Investment Business: Our Investment Business comprises up to 20% of the Group's profit and consists of Georgia Healthcare Group (Healthcare Business) - an LSE (London Stock Exchange PLC) premium listed company, m2 Real Estate (Real Estate Business), Georgia Global Utilities (Utility Business or GGU) and Teliani Valley (Beverage Business). Georgia's fast-growing economy provides opportunities in a number of underdeveloped markets and the Group is well positioned to capture growth opportunities in the Georgian corporate sector.
JSC BGEO Group has, as of the Bank of Georgia has, as of the date hereof, the following credit date hereof, the following credit ratings: ratings: Fitch Ratings 'BB-/B' Fitch Ratings 'BB-/B' Moody's B1/NP (FC) & Moody's 'B1/NP' (FC) & B1/NP (LC) 'Ba3/NP' (LC)
For further information, please visit www.bgeo.com or contact:
Irakli Gilauri Michael Oliver Ekaterina (Eka) Shavgulidze Group CEO Adviser to the CEO Head of Investor Relations +995 322 444 109 +44 203 178 4034 +995 322 444 205 igilauri@bog.ge moliver@bog.ge eshavgulidze@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
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
December 19, 2016 02:12 ET (07:12 GMT)
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