Business
Bank of Georgia announces Eurobonds repurchase
Bank of Georgia announces Eurobonds repurchase.
About this update from Lion Finance Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n London, 20 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Bank of Georgia Group PLC announces Eurobonds repurchase\n \n \n \n \n \n \n Bank of Georgia Group PLC (the 'Group') announces that in March 2023 JSC Bank of Georgia (the 'Bank') repurchased US$ 2,400,000 of Notes, ISIN XS1405775880, which were issued on 26 July 2016 and which mature on 26 July 2023 (the '2023 Notes'). Following the tender offer which was completed in September 2022 and which resulted in a repurchase and cancellation of US$ 129,987,000 of the 2023 Notes, the Bank has in total, itself and through its brokers, repurchased an additional US$ 19,995,000 of the 2023 Notes. As of today, the Group holds 64.0% (US$ 140,834,000) of the outstanding (US$ 220,013,000) 2023 Notes.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations\n \n \n \n \n \n \n About Bank of Georgia Group PLC\n \n \n \n \n \n \n Bank of Georgia Group PLC (\"Bank of Georgia Group\" or the \"Group\" - LSE: BGEO LN) is a UK incorporated holding company. The Group comprises: a) retail banking and the payment business (Retail Banking); b) corporate banking and investment banking operations in Georgia; and c) banking operations in Belarus (\"BNB\"). JSC Bank of Georgia (\"Bank of Georgia\", \"BOG\" or the \"Bank\"), a systemically important and leading universal bank in Georgia, is the core entity of the Group. The Bank is a leader in the payments business and financial mobile application, with strong retail and corporate banking franchises. The Group focuses on expanding its technological and advanced data analytics capabilities, to offer more personalised solutions and seamless experiences to its customers to enable them to achieve more of their potential. The Group expects to benefit from the growth of the Georgian economy, and through both its Retail Banking and Corporate and Investment Banking operations, it aims to deliver on its strategy and its key medium-term objectives - at least 20% return on average equity (ROAE) and c.10% growth of its loan book\n .\n \n \n \n \n \n \n \n \n \n \n \n JSC Bank of Georgia has, as of the date her...