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26 October, 2021

MKD Law advised the European Bank for Reconstruction and Development on GEL 92,000,000 and GEL 93,000,000 bond placements 

MKD Law has advised the European Bank for Reconstruction and Development (EBRD) on GEL 92,000,000 and GEL 93,000,000 bond placements. The term to the bond maturity is limited to 5 years and 3 years and 9 months respectively. Each issue was entirely purchased by Bank of Georgia.

Both bond’s coupon is linked to the 3-month TIBR. The bond proceeds in each case 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).

MKD Law has extensive experience in advising international financial institutions on similar transactions such experience also includes a successful track record of fruitful cooperation with EBRD. 

“Since its inaugural issue of GEL denominated bonds in 2014, EBRD remains very active on the local capital market sharing its valuable experience with the market participants and our team. We do hope that EBRD will further boost the capital market development by its future transactions” – noted Natalia Babakishvili. 

“This is yet another milestone transaction for respective practices at this firm as well in evidence of an unwavering support by prominent international financial institutions in supporting the national economy through developing the capital market in the country”, - remarked Victor Kipiani.