Amount of Georgian bonds held by foreign investors up

Finance Materials 13 April 2021 13:49 (UTC +04:00)
Amount of Georgian bonds held by foreign investors up

BAKU, Azerbaijan, April 13

Tamilla Mammadova – Trend:

The amount of Georgian bonds held by foreign investors has increased, Trend reports via the TBC Capital report.

As reported, in March, non-residents held government bonds worth 703.4 million lari ($205.9 million) that are about 4.2 million lari ($1.2 million) more compared with the previous month.

According to TBC Capital, in the same period, the share of non-residents in government bonds remained unchanged at 12.7 percent.

The share of Treasury securities held by the National Bank reaches 19.8 percent in March 2021 against 18 percent in February. The largest share of bonds, 66.3 percent, is still held by banks.

Within 10 days, new Eurobonds will be placed in the amount of $500 million in Georgia, said Deputy Finance Minister Giorgi Kakauridze.

Large investment banks such as JP Morgan, Goldman Sachs and ICBC will be involved in purchasing bonds. Eurobonds can be also bought by the domestic market players - the government will cooperate with the Georgian investment banks Galt & Taggart and TBC Capital.

The total cost of the bonds was $500 million; the interest rate will be about 4 percent per annum.


Follow the author on Twitter: @Mila61979356