| Project Detail |
The project will achieve the following objectives: (i) mobilize private capital for the first sustainability linked financing in the local capital market, and (ii) enable Georgia Capital to access long term funding to refinance and finance sustainable activities to meet its sustainability targets.
DESCRIPTION
The Project involves an anchor investment of up to USD30 million into JSC Georgia Capital’s upcoming and debut issuance of sustainability-linked bonds in the Georgian capital markets.
Wholly owned by Georgia Capital Plc, JSC Georgia Capital is the leading investment holding company in Georgia with portfolio companies across different sectors: banking, renewable energy, water utilities, education, pharmacy, hospitals & clinics, and other smaller companies.
The Company plans to issue a USD 150 million sustainability-linked, senior unsecured bond, targeting both local and international institutional investors with dollar appetite. The bond proceeds are expected to be allocated as follows: 80% for refinancing the existing Eurobond, and 20% for general corporate purposes.
AIIB investment proceeds will be used to refinance historical investments in the renewable energy. |
