TBC Bank Group PLC TBC Bank signs syndicated loan agreement (2156U)
October 20 2017 - 6:56AM
UK Regulatory
TIDMTBCG
RNS Number : 2156U
TBC Bank Group PLC
20 October 2017
TBC Bank signs syndicated loan agreement of USD 106.5 million
with FMO and OFID
JSC TBC Bank ("TBC Bank"), a subsidiary of TBC Bank Group PLC
("TBC PLC") has signed syndicated loan agreements in the total
amount of USD 106.5 million with the Netherlands Development
Finance Company ("FMO").
This is the second syndicated loan agreement arranged by FMO
(Netherlands Development Finance Company), TBC's long-standing
partner. The loan facility is provided in syndication with OFID
(OPEC Fund for International Development). Other participants,
financing USD 56.5 million in total are Symbiotics (through its
MSME Bond Platform); Atlantic Forfaitierungs AG; London Forfaiting
Company Limited and undisclosed institutional investors through
FMO's syndications platform.
The FMO funding enables TBC Bank to further support micro, small
and medium-sized enterprise (MSME) financing in Georgia, while the
OFID portion of the facility will support international trade
finance projects.
"We are proud to have built such a successful relationship with
FMO, TBC Bank's long standing partner, as well as OFID and other
participants of the syndicate. The size of this funding clearly
indicates the success of our previous syndicated loan and our
matured partnership. This large facility will help TBC Bank to
further strengthen its leading position in the MSME segment,"
commented Vakhtang Butskhrikidze, CEO of TBC Bank.
FMO's Chief Investment Officer Linda Broekhuizen commented: "FMO
is proud to have arranged this groundbreaking syndicated credit
line for TBC, bringing also new investors to Georgia. It will
enable TBC to continue its growth and helps support job creation in
the country."
OFID Director-General Suleiman J. Al-Herbish said: "The
financial sector of a country underpins economic stability and
growth; it is central to poverty reduction and development. OFID is
committed to supporting international trade. Channelling funds
through financial intermediaries such as TBC Bank furthers our
reach and impact when it comes to supporting sustainable
development. This loan agreement is in line with our commitment to
developing countries across the globe."
For further enquiries, please contact:
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC PLC
TBC PLC is a public limited company registered in England and
Wales that was incorporated in February 2016. TBC PLC became the
parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC
PLC is listed on the London Stock Exchange under the symbol
TBCG.
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
38.0% of loans and 39.8% of non-banking deposits as at 30 June
2017, according to the data published by the National Bank of
Georgia.
About FMO
FMO (the Netherlands Development Finance Company) supports
sustainable private sector growth in developing and emerging
markets, focusing on three sectors that have high development
impact: financial institutions, energy, and agribusiness, food
& water. With an investment portfolio of EUR 9.0 billion, FMO
is one of the largest European bilateral private sector development
banks. For more information, please visit www.fmo.nl.
About OFID
OFID is the development finance institution established by the
Member States of OPEC in 1976 as a channel of aid to developing
countries. OFID works in cooperation with developing country
partners and the international donor community to stimulate
economic growth and alleviate poverty in all disadvantaged regions
of the world. It does this by providing financing to build
essential infrastructure, strengthen social services delivery and
promote productivity, competitiveness and trade. OFID's work is
people-centered, focusing on projects that meet basic needs-such as
food, energy, clean water and sanitation, healthcare and education.
OFID aims to encourage self-reliance and inspire hope for the
future.
This information is provided by RNS
The company news service from the London Stock Exchange
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