Bank of Georgia Group PLC BOG's $75mln Facility Named Trade Deal of the Year (9596Z)
September 06 2018 - 2:01AM
UK Regulatory
TIDMBGEO
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 Group CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 126 +44 203 178 4034 +995 322 444 108 (9282)
k.kiknavelidze@bog.ge moliver@bgeo.com dtsiklauri@bog.ge ir@bog.ge
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solicitation of an offer to buy any securities
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END
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