Georgian Oil And Gas Corporation Successfully Placed Eurobond In London Stock Exchange

14 May, 2012
State-owned Georgian Oil and Gas Corporation (GOGC) announced that it had placed USD 250 million Eurobond in London Stock Exchange with a maturity of five years on 9 May.

“It is a big success for Georgian economy”, said Georgian PM Nika Gilauri in an interview with Financial Times.

Initial interest rate for bond was 7.50–7.75%, however due to the fact that the demand on GOGC bond was four times greater, the rate decreased to 7, 125%.

The proceeds from the bond issue will go towards construction of the Namakhvani hydroelectric power project.