About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Georgia Issues 10-year USD 500mln Eurobond
Civil Georgia, Tbilisi / 12 Apr.'11 / 17:08

Georgia announced on April 12 about issuing new USD 500 million, 10-year Eurobond offering to yield 7.125%.

In parallel to the new bond issue, the Georgian government redeemed USD 417 million from its USD 500 million five-year Eurobond, which was due in 2013.

The Georgian government announced about its intention to issue new Eurobond to refinance the previous one, released in April 2008, in March.

Fitch Ratings assigned Georgia’s new USD 500 million Eurobond B+ rating. In March Fitch affirmed Georgia's long-term foreign currency Issuer Default Rating at 'B+' and revised Georgia’s outlook from stable to positive.

Fitch Ratings said in a press release on April 12, that lengthening of debt maturity and smoothing of its amortization hump in 2013 was a “favourable development.”

“Prior to the buyback, Georgia's sovereign external amortisation was scheduled to increase sharply from USD126m in 2011 and USD294m in 2012 to USD947m in 2013, before declining to USD320m in 2014 (including the National Bank of Georgia's obligations to the IMF). The amortisation hump coincides with the next political cycle, with parliamentary elections scheduled for 2012 and presidential elections scheduled for 2013,” Fitch Ratings said.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2020, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
24