The onshore bond issue pays a floating rate of interest indexed to the National Bank of Georgia, a three-month CD reference rate, plus 20 basis points. The proceeds of the issue will be lent to two microfinance lenders—Credo Microfinance Organization and Finca Bank Georgia—to support the development of the microfinance sector and the local capital market in general.
MKD’s deal team, consisting primarily of Victor Kipiani and Natalia Babakishvili, was selected as sole legal counsel to the ADB on this recent issue as well as on the previous one in 2015.
The successful completion of both ADB bond transactions proves the efficiency and reliability of MKD’s capital markets practice, adding to the firm’s outstanding track record of advising international financial institutions on debt securities placements.
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