Georgian state-owned railway company will issue eurobonds worth of USD 250 million, Georgian PM’s spokesman, Nikoloz Mchedlishvili, said.

He told Rustavi 2 TV’s business news program on Tuesday that PM Nika Gilauri will be visiting London on July 7-8 to lead a road-show for Georgian Railway’s planned eurobonds, organized by JP Morgan.

PM’s spokesman said exact terms have yet to be defined, but it would most likely be from five to seven-year eurobonds.

According to the same report raised funds will be used for Tbilisi by-pass railway project. EBRD provides EUR 100 million loan to co-finance a new double track railway route 10 km north of Tbilisi, which will divert rail traffic around the center of Tbilisi. This section of railway is part of main route for freight on the east-west transport corridor in Georgia.