TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

April 24, 2017

TBC Bank acts as underwriter of EBRD Eurobond issue

TBC Bank Group PLC announces that its subsidiary JSC TBC Bank has acted as lead manager and underwriter for European Bank for Reconstruction and Development (“EBRD”) GEL 120 million (€46.7 million) Eurobond issue under EBRD’s Medium Term Note Programme. The bonds are to be listed on the London Stock Exchange.

This is a milestone transaction in the history of TBC Bank and for the Georgian financial sector, and further supports the diversification of local currency financial instruments. Specifically, the issue is both denominated and settled in Georgian Lari through the linkage between Clearstream and the Georgian domestic market, and serves as a gateway for GEL to become a settlement currency in the international central securities depository system. We also anticipate that it will help encourage a broader interest of international investors in the Georgian domestic market. 
The bonds are issued with a maturity of five years and its coupons are linked to a three-month Certificates of Deposit (“CDs”) issued by the National Bank of Georgia (“NBG”) and will be made eligible for the repurchase operations carried out by the NBG.
“We are delighted to have completed another successful transaction with EBRD. Issuance of GEL denominated Eurobonds under the EBRD MTN programme, that will be listed on the London Stock Exchange is an important achievement for the Georgian financial sector. This will further support the liquidity of the local currency and attract international investors to the local market,” commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.
For further enquiries, please contact:
Head of Investor Relations
Anna Romelashvili 
TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank (“TBC Bank”) on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG.
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 31.1% of loans (or 38.9% taking into account TBC Bank's holding in JSC Bank Republic and 33.0% of non-banking deposits (or 37.8% taking into account TBC Bank's holding in JSC Bank Republic) as at 31 December 2016, according to the data published by the National Bank of Georgia.