Bank of Georgia announces Eurobonds repurchase

RNS Number : 8398H

Bank of Georgia Group PLC

08 April 2022

 

London, 8 April 2022

Bank of Georgia Group PLC announces Eurobonds repurchase

Bank of Georgia Group PLC (the "Group") announces that this week the brokers of its subsidiary, JSC Bank of Georgia (the "Bank"), acting under the Bank's standing order, have repurchased US$ 4.9 million of Notes due 2023, ISIN XS1405775880, which were issued on 26 July 2016 (the "2023 Notes"). Following the repurchase, the Group holds 20.7% (US$ 72.5 million) of the 2023 Notes. The repurchased 2023 Notes will be held by the Group, and, currently, there is no intention to cancel them.

Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations

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. The Group comprises: a) retail banking and the payment business (Retail Banking); b) corporate banking and investment banking operations in Georgia; and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of Georgia", "BOG" or the "Bank"), a systemically important and leading universal bank in Georgia, is the core entity of the Group. The Bank is a leader in the payments business and financial mobile application, with strong retail and corporate banking franchises. The Group focuses on expanding its technological and advanced data analytics capabilities, to offer more personalised solutions and seamless experiences to its customers to enable them to achieve more of their potential. The Group expects to benefit from the growth of the Georgian economy, and through both its Retail Banking and Corporate and Investment Banking operations, it aims to deliver on its strategy and its key medium-term objectives - at least 20% return on average equity (ROAE) and c.10% 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	'Ba2/NP'

For further information, please visit www.bankofgeorgiagroup.com or contact:

Archil Gachechiladze	Michael Oliver	Sulkhan Gvalia	Nini Arshakuni
CEO	Adviser to the CEO	CFO	Head of Investor Relations
[phone]	[phone]	[phone]	[phone] (7515)
[e-mail]	[e-mail]	[e-mail]	[e-mail]

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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