• ABOUT US
    • History
    • Our Team
    • Advertising
    • Subscription
  • CONTACT US
Georgia Today
No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
No Result
View All Result
Georgia Today
No Result
View All Result

EBRD Backs Georgia Capital’s $150 million Sustainability-Linked Bond

by Georgia Today
October 3, 2023
in Business & Economy, Magazine
Reading Time: 2 mins read
Image source: euneighbourseast

Image source: euneighbourseast

The European Bank for Reconstruction and Development (EBRD) is continuing to support capital market development in Georgia by participating in the first sustainability-linked bond (SLB) issuance in the Caucasus. The Bank is investing $ 25 million in Georgia Capital’s (GCAP) $150 million corporate bond, which is also the country’s largest ever corporate offering.

GCAP will primarily use the proceeds to refinance its existing Eurobonds, to enhance the robustness of its capital management and to boost its investment capabilities. As set out in the underlying SLB framework, the issue is also in line with GCAP’s net-zero ambitions; the company has committed to reducing CO2 emissions across its businesses by 20 percent by end 2027.

The EBRD has invested almost €5 billion in Georgia to date through 286 projects, with 82% of those in the private sector

The issuance is dated 3 August 2023, with a five-year maturity and a fixed coupon of 8.50 per cent. It will be listed on the Georgian Stock Exchange and is in line with the International Capital Market Association’s SLB Principles and international standards of sustainable finance. The introduction of the new financial instrument to the local market has been supported by fellow international financial institutions.

The EBRD has a long-standing relationship with GCAP and has engaged with it and its subsidiaries on a number of occasions, including the company’s inaugural Eurobond issuance in 2018.

Image source: euneighbourseast
Image source: euneighbourseast

GCAP is a holding company for a diversified group of businesses operating in sectors including healthcare services, retail pharmacies, insurance and renewable energy. It is the only non-bank entity among the three Georgian companies listed on the London Stock Exchange.

The EBRD has invested almost €5 billion in Georgia to date through 286 projects, with 82 per cent of those in the private sector. The Bank’s key areas of investment include the financial sector, sustainable infrastructure and small and medium-sized enterprises.

By Rezo Bitsadze

Tags: EBRDGCAPGeorgia's Sustainability-Linked BondInternational Capital Market Association
ShareShareTweet

Related Posts

ZEG Festival participants. Photo by the author
Business & Economy

Reflections on the ZEG Festival

July 3, 2025
A technical training for hazelnut producers. Source: FAO
Business & Economy

How Georgia’s Hazelnut Sector Is Growing Toward a Sustainable, High-Quality Future

July 3, 2025
Georgia to nationalize psychotropic drug imports and OST services
Business & Economy

Georgia to nationalize psychotropic drug imports and OST services

July 1, 2025

Recommended

Putin, Xi, and allied leaders mark Russia’s Victory Day at Moscow parade

Putin, Xi, and allied leaders mark Russia’s Victory Day at Moscow parade

2 months ago
Experience Seamless Connectivity with Silknet eSIM in Georgia

Experience Seamless Connectivity with Silknet eSIM in Georgia

1 year ago
Champion Karateka Luka Khvedeliani on the Benefits of Georgian Karate for Georgia’s Youth

Georgia to Celebrate First Europe Day with European Union Candidate Status

1 year ago
Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

3 years ago
Natia Mezvrishvili on Dealing with 2 Political Giants

Natia Mezvrishvili on Dealing with 2 Political Giants

3 years ago
Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

3 years ago
GT Interview with Giorgi Badridze

GT Interview with Giorgi Badridze

3 years ago
Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

3 years ago

Navigation

  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

Highlights

Speaker: OSCE SG’s statement ends Brussels’ attempts to undermine Georgian democracy

OSCE PA urges Syria to withdraw recognition of “independence” of Georgia’s Abkhazia, Tskhinvali regions

OP-ED: Good Things Are Happening in Our Neighborhood. On Azerbaijan–Russia–Armenia

Israel-Iran Latest: Tensions Escalate as Iran Suspends IAEA Cooperation Following US and Israeli Strikes

Ukraine Latest: US Halts Aid as Russia Escalates Attacks, North Korea Deepens Involvement

OSCE PA: October 26 elections marred by irregularities – Calls for dialogue, release of political prisoners, and new vote

Trending

Experience Seamless Connectivity with Silknet eSIM in Georgia
Business & Economy

Experience Seamless Connectivity with Silknet eSIM in Georgia

by Georgia Today
June 26, 2024

Why Silknet's eSIM could be your top choice in Georgia  Since its introduction, eSIM technology has become...

Photo by the author

Virtuosity and Versatility: Marc-André Hamelin Opens Tbilisi Piano Festival 2024

May 30, 2024
  • Where.ge
  • Newspaper
  • GEO
  • Magazine
  • Old Website

2000-2024 © Georgia Today

No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

2000-2024 © Georgia Today