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16 July, 2021

MKD Law Advised the European Bank for Reconstruction and Development on GEL 157,500,000 Bond Placement

MKD Law has successfully advised the European Bank for Reconstruction and Development (EBRD) on GEL 157,500,000 bond placement. The term to the bond maturity is limited to 18 months and the issue was entirely purchased by TBC Bank.

The bond’s coupon is linked to the 3-month TIBR. The bond will begin to amortize in 6 month from its issue date.

The bond proceeds will be included in the ordinary capital resources of EBRD and used in its ordinary operations.

The legal assistance to the transaction was provided by the MKD Law team comprising Victor Kipiani (Senior Partner) and Natalia Babakishvili (Associate).

“This bond transaction denominated in Georgian Lari bears considerable importance for the country as it is meant to boost investment activities in Georgia. It will, also, support the development of the local capital market, as well as give more credibility to the de-dollarization process. We, at MKD Law, are very glad to continue successful cooperation with EBRD through the years and participate in important projects for the country.” – noted Victor Kipiani.

The successful completion of the transaction repeatedly demonstrates high quality and value of MKD Law’s capital markets practice and singles out the firm with its unrivalled track record on debt securities deals.