MKD Law has successfully advised the Asian Development Bank (ADB) on its recent private placement of GEL 18.75 million.
The ADB bond issuance was aimed at raising funds to finance ADB’s investment in a 2-year gender bond (i.e. social bond issued to enhance gender equality and women's empowerment) issued by Microfinance Organization Crystal.
The total bond issuance amounts to GEL 25 million with ADB as the anchor investor and Bank of Georgia as co-investor with a subscription of GEL 6.25 million.
The proceeds of the first-ever certified gender bond issuance in the Georgian Stock Exchange will finance women-owned micro, small and medium-sized enterprises.
During the transaction, ADB was assisted and advised by MKD Law’s Natalia Babakishvili, Associate. Victor Kipiani was the partner of the deal.
This is one more excellent opportunity for the women of Georgia to contribute more effectively to the development of the country. We are extremely eager to have this opportunity to provide legal assistance to ADB which expressed its readiness to purchase a major portion of the first-ever local gender bonds.