Georgian TBC Bank sells its bonds on Georgian Stock Exchange
Baku, Azerbaijan, Sept. 2
By Tamilla Mammadova – Trend:
TBC Bank bonds were sold on the Georgian Stock Exchange, Trend reports citing the bank’s website.
As reported, it is the biggest deal for TBC. The bank has sold 1,000 bonds. The price of each bond was $1,008, and the transaction value exceeded $1.008 million.
In June, TBC successfully evaluated the debut issue of priority unsecured bonds worth $300 million with a 5-year yield of 5.75 percent, representing the lowest yield achieved by the Georgian issuer in international credit markets. The bank placed them on the Irish and Georgian stock exchanges. The order book was successfully signed and reached over $700 million.
The Bank’s first exchange transaction on the Georgian Stock Exchange ended on July 19, when the shares were sold for $1,003, and then another transaction was on August 23, when the shares were sold for $203,000.
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a share of 38.5 percent of loans and 41 percent of non-bank deposits as of June 30, 2019.