Bank of Georgia confirms discussions on a propo...
Bank of Georgia
Bank of Georgia confirms discussions on a proposed funding transaction with the
International Finance Corporation and other potential lenders
In connection with the Summary of Proposed Investment published by International
Finance Corporation ('IFC') on its web site
(http://www.ifc.org/ifcext/eca.nsf/Content/Georgia_InvestmentProjects) on 17
October 2008, JSC Bank of Georgia (LSE: BGEO; GSE: GEB), confirms that it is in
discussions with IFC and other potential lenders on a potential funding
transaction, including up to US$100 million to be provided by IFC and up to
US$100 million from other potential lenders. The funding package under
discussion includes senior, subordinated, and convertible subordinated loan
facilities. The part of the funding package of up to $100 million to be provided
by IFC is subject to approval by IFC's Board of Directors.
About Bank of Georgia
Bank of Georgia, the leading universal Georgian bank with operations in Georgia,
Ukraine and Belarus is the largest bank by assets, loans, deposits and equity in
Georgia, with 33% market share by total assets (all data according to the NBG as
of 31 August, 2008). The bank has 142 branches and over 880,000 retail and more
than 128,000 corporate current accounts. The bank offers a full range of retail
banking and corporate and investment banking services to its customers across
Georgia. The bank also provides a wide range of corporate and retail insurance
products through its wholly-owned subsidiary, Aldagi BCI, as well as asset &
wealth management services.
Bank of Georgia has, as of the date hereof, the following credit ratings:
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Standard & Poor's 'B/B'
FitchRatings 'B/B'
Moody's 'B3/NP' (FC) & 'Ba1/NP' (LC)
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For further information, please visit www.bog.ge/ir or contact:
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Nicholas Enukidze Irakli Gilauri Macca Ekizashvili
Chairman of the Supervisory Board Chief Executive Officer Head of Investor Relations
+995 32 444 800 +995 32 444 109 +995 32 444 256
nenukidze@bog.ge igilauri@bog.ge ir@bog.ge
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This news report is presented for general informational purposes only and should
not be construed as an offer to sell or the solicitation of an offer to buy any
securities.
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