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11 June, 2021

MKD Law advises FMO on the GEL 34 million bond issue and loan facility


MKD Law has successfully advised the Dutch Entrepreneurial Development Bank (FMO) on its recent GEL 34 million bond issue and loan facility.

The bonds were fully purchased by Terabank. Pledging the bonds will enable Terabank to borrow 95% of the principal of the bonds for refinancing rate from the National Bank of Georgia.

At the same time FMO has provided a loan facility to Terabank. The GEL financing from FMO will be used by Terabank to expand its lending activities to SME business.

Similar to previous transactions of FMO the recent transaction is crucial for supporting the local financial institutions, and more generally, for development of the Georgian capital market.

FMO was assisted and advised by Victor Kipiani, Senior Partner and Natalia Babakishvili, Associate of MKD Law.  

"We are delighted to successfully complete the transaction with FMO. TBC Capital and MKD played an important role to make it happen.", - said Sophie Jugeli, CFO of Terabank.

“We, the MKD Law team, are especially proud that the assignment was successfully accomplished yet again and very much look forward to continuing a long-term and fruitful cooperation with FMO”, - noted Victor Kipiani.