Business
TBC Bank signs syndicated loan agreement
TBC Bank signs syndicated loan agreement.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \nRNS Number : 2156U TBC Bank Group PLC 20 October 2017 \n\nTBC Bank signs syndicated loan agreement of USD 106.5 million with FMO and OFID\nJSC TBC Bank (\"TBC Bank\"), a subsidiary of TBC Bank Group PLC (\"TBC PLC\") has signed syndicated loan agreements in the total amount of USD 106.5 million with the Netherlands Development Finance Company (\"FMO\"). \nThis is the second syndicated loan agreement arranged by FMO (Netherlands Development Finance Company), TBC's long-standing partner. The loan facility is provided in syndication with OFID (OPEC Fund for International Development). Other participants, financing USD 56.5 million in total are Symbiotics (through its MSME Bond Platform); Atlantic Forfaitierungs AG; London Forfaiting Company Limited and undisclosed institutional investors through FMO's syndications platform.\nThe FMO funding enables TBC Bank to further support micro, small and medium-sized enterprise (MSME) financing in Georgia, while the OFID portion of the facility will support international trade finance projects. \n\"We are proud to have built such a successful relationship with FMO, TBC Bank's long standing partner, as well as OFID and other participants of the syndicate. The size of this funding clearly indicates the success of our previous syndicated loan and our matured partnership. This large facility will help TBC Bank to further strengthen its leading position in the MSME segment,\" commented Vakhtang Butskhrikidze, CEO of TBC Bank.\nFMO's Chief Investment Officer Linda Broekhuizen commented: \"FMO is proud to have arranged this groundbreaking syndicated credit line for TBC, bringing also new investors to Georgia. It will enable TBC to continue its growth and helps support job creation in the country.\"\nOFID Director-General Suleiman J. Al-Herbish said: \"The financial sector of a country underpins economic stability and growth; it is central to poverty reduction and development. OFID is committed to supporting international trade. Channelling funds through financial intermediaries such as TBC Bank furthers our reach and impact when it comes to supporting sustainable development. This loan agreement is in line with our commitment to developing countries across the globe.\"\n \nFor further enquiries, please contact:\nHead of Investor Relations\nAnna Romelashvili \[email protected]\n...