Georgia Capital mulls Eurobond issuance to shore up balance sheet ahead of demerger
Source - SMW
BGEO Group said its investment arm JSC Georgia Capital mandated a number of investment banks to explore the option of issuing a Eurobond as it seeks to optimise its balance sheet ahead of a demerger.
Irakli Gilauri, BGEO CEO said: 'The Board of BGEO announced earlier this week that it had approved the implementation of the proposed demerger of BGEO Group into two separately London-listed businesses: Bank of Georgia PLC and Georgia Capital PLC.'
'Following this announcement, Georgia Capital is considering the best ways to optimise its balance sheet flexibility and capital structure ahead of the demerger and will explore the option of issuing a US dollar denominated Eurobond.'
At 9:43am: (LON:BGEO) BGEO Group share price was +84p at 3454p