ADB invests in bond issuance of Georgian hospital provider
BAKU, Azerbaijan, December 18
By Tamilla Mammadova – Trend:
The Asian Development Bank (ADB) is investing 19.5 million Georgian lari ($6.7 million) in corporate bonds of JSC Evex Hospitals, the leading hospital services provider in Georgia, Trend reports referring to ADB.
JSC Evex Hospitalsis owned by the London Stock Exchange-listed Georgia Healthcare Group PLC.
EVEX Hospitals is Georgia’s leading provider of healthcare services in private sector, and is among the Caucasus largest hospital networks. Nowadays, EVEX Hospitals' network encompasses 78 hospitals of different types and resources in six regions of Georgia, employing up to 12,000 employees country-wide.
"The proceeds of the issuance, combined with the company’s internal accrual, will refinance some of Evex Hospitals’ debt and support the company to achieve better operational efficiency, quality of services, and governance,” said ADB.
The value of total bond issuance by Evex Hospitals is 50 million lari ($17.2 million).
As the bank noted, this investment supports Georgia’s national health care program to provide access to better health care for Georgians.
"ADB’s continued support for capital market development in Georgia, especially through the deepening of its corporate debt securities and local currency bond market. We are delighted to support dual efforts to develop the capital market and to invest in the country’s human capital,” said ADB Country Director for Georgia Shane Rosenthal.
ADB has supported Georgia since 2007. Sovereign and non-sovereign loans from the ADB to Georgia amount to $3.5 billion.
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