Business
JSC Bank of Georgia priced $300m AT1 capital notes
JSC Bank of Georgia priced $300m AT1 capital notes.
About this update from Lion Finance Group Plc
[{"type":"text","content":"\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. IN PARTICULAR, NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE \"UNITED STATES\") OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED).\n \n \nLondon, 10 April 2024\n \nBank of Georgia Group PLC announces that JSC Bank of Georgia issued USD 300,000,000 9.5% perpetual subordinated callable additional tier 1 capital notes\n \nOn Tuesday, 9 April 2024, Bank of Georgia Group PLC's banking business subsidiary, JSC Bank of Georgia (the \"Bank\") successfully priced a USD 300 million offering of 9.5% perpetual subordinated callable additional tier 1 notes (the \"Notes\"). The Notes are denominated in USD and are expected to settle on 16 April 2024. The Notes are being issued in accordance with Reg S/Rule 144A and sold at an issue price of 100%. Citigroup and J.P. Morgan are acting as Joint Lead Managers and Bookrunners for the Notes, BCP Securities is acting as Joint Lead Manager and Galt & Taggart is acting as Co-manager. Latham & Watkins (London) LLP is acting as the legal advisor to the Joint Lead Managers in respect of English and United States federal law and Dentons Georgia LLC is acting as the legal advisor to the Joint Lead Managers in respect of Georgian law. Baker & McKenzie LLP is acting as the legal advisor to the Bank in respect of English and United States federal law and MG Law LLC is acting as the legal advisor to the Bank in respect of Georgian law. The Notes are expected to be listed on the Irish Stock Exchange and to be rated B- (Fitch) and B2 (Moody's).\n \n \nDisclaimer\n \nIn member states of the European Economic Area, this Announcement is only addressed to and is only directed at persons who are qualified investors (\"Qualified Investors\") within the meaning of Article 2(1)(e) of the Regulation (EU) 2017/1129.\n \nIn the United Kingdom (\"UK\"), this Announcement is only addressed to and is only directed at persons who are qualified investors (\"Qualified Inv...