BOG's $75mln Facility Named Trade Deal of the Year

RNS Number : 9596Z

Bank of Georgia Group PLC

06 September 2018

 

London, 6 September 2018

Bank of Georgia's US$75 million Trade Finance Club Facility Named Trade Deal of the Year

Bank of Georgia Group PLC ("the Group") announces that JSC Bank of Georgia's ("the Bank" or "Bank of Georgia") one-year US$75 million Club Trade Finance Facility ("the Facility") arranged in 2017 by Citi Bank ("Citi") in collaboration with the Bank's long-term partner international financial institutions - Asian Development Bank ("ADB") and International Finance Corporation ("IFC"), a member of the World Bank Group, was recognised as the Trade Deal of the Year by ADB's Trade Finance Program ("TFP"). The Facility was the fourth successful syndication arranged by Citi for JSC Bank of Georgia and the largest ever Trade Club deal arranged by commercial and development banks for trade finance purposes in CAREC (The Central Asia Regional Economic Cooperation) member countries.

Kaha Kiknavelidze, Bank of Georgia CEO commented: "We were very pleased to be a participant in the important collaboration between commercial and multilateral banks that work hand in hand to create advantageous trade finance products for corporate and SME companies in Georgia, and to spread and deepen partnerships between local and international players across the supply chain. The Facility helped us enhance cross-border trade and finance up to 100 trade deals, including important transactions in the manufacturing and energy sectors. I would like to thank ADB for supporting the local trade finance market through this TFP and I hope we will work together on many more successful deals in the future."

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: (1) at least 20% ROAE, and (2) 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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