Bank of Georgia Group raises US$ 25mln from GGF

RNS Number : 6094L

Bank of Georgia Group PLC

28 December 2018

 

London, 28 December 2018

Bank of Georgia Group raises US$ 25 million 5-year financing from GGF

Bank of Georgia Group PLC ("the Group") announces that the Group has co-operated with the Green for Growth Fund ("GGF") to gain additional long-term funding totalling US$ 25 million to finance micro and small enterprises, large businesses and public entities in Georgia. The 5-year facility from GGF will primarily serve the working capital financing and investment needs of Georgian enterprises, municipalities or public sector entities and will target energy efficient projects which will result in more than 20% energy savings.

Kaha Kiknavelidze, Group CEO commented: "I am pleased that we have once again joined efforts with GGF to create a range of products for our clients that will be directed at financing energy efficient projects in Georgia. This is our second co-operation with GGF, which will significantly contribute to the further improvement of our environmental footprint. I would like to thank our partner for their contribution in supporting the further development of Georgian enterprises."

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 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 investment banking services and aims to deliver on its strategy, which is based on at least 20% ROAE and 15%-20% 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:

Kaha Kiknavelidze	Michael Oliver	David Tsiklauri	Natia Kalandarishvili
Group CEO	Adviser to the CEO	Group CFO	Head of Investor Relations
[phone]	[phone]	[phone]	[phone] (9282)
[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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