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Georgian Leasing Company completes another successful deal

Business Materials 16 August 2019 18:47 (UTC +04:00)

Baku, Azerbaijan, August 16

By Tamilla Mammadova – Trend:

Georgian Leasing Company (GLC) completed a successful public placement of 2-year $10 million worth of bonds, with the unprecedented low coupon rate for the Georgian market, Trend reports via Georgian Leasing Company's statement.

Galt & Taggart acted as the placement agent.

This is the fourth issue of bonds of the Georgian Leasing Company, which demonstrates the stability of the company, a high level of investor confidence and the growth trend of the company as a whole.

The annual fixed rate on securities is 7.5 percent, in the near future the company plans to allow trading in these securities in the local stock system, and, accordingly, the accrued interest will be exempted from taxes, which will make securities more attractive for investors.

"This is our fourth successful bond issuance. High demand for the bonds once again confirms GLC’s high reliability and expertise of "Galt & Taggart". Bond market enables us to enhance our financial flexibility by diversifying our funding sources and we will continue to use this financial tool in future as well,” stated General Director of the company Eldar Akhvlediani.

“I am pleased to point out Galt & Taggart’s role in the successful bond issuance by Georgian Leasing Company for the second time. The investor community revealed a great deal of interest, which led the coupon rate to the unprecedented low rate for the Georgian market,” said Otari Sharikadze, Managing Director of Galt & Taggart.

The company’s first issuance was in the amount of $10 million in September 2014.

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