Tbilisi (GBC) - Alma announces the issuance of bonds worth up to $40 million with a maturity of 2 years, in 2 issues ($30 million and €8.5 million), to refinance bank liabilities. The securities will also be listed on the stock exchange.
The placement agent is G&T and TBC Capital. The prospectuses of the issue approved by the NBG include detailed information on the issuer's activities, share distribution, related risks, etc. On the risks characteristic of the industry and economy.
Currency |
USD |
EURO |
|
Nominal |
1 000 |
1 000 |
|
Interest Rate (%) |
8-8.5% |
7-7.5% |
|
Volume |
30 000 |
8 500 |
|
Value |
30 მლნ |
8.5 მლნ |
|
Maturity Date |
11.07.2027 |
11. 07.2027 |
Also on the conflict of interest . Among others. Between placement agents and commercial banks (BOG, TBC). The conflict is minimized by taking into account the following circumstances:
Agents are guided by the principle of equality and equal rights in their relations with banks. They treat the bank as one of the investors.
As of 01.01.2025, the group has bank liabilities of 177,846 thousand GEL.
The issue prospectus indicates that the transactions for April-May 2025. In the April transaction, “Kostava Towers” (“Kostava Towers” acquired land with a building on it from LEPL Public Broadcaster in 2022. Part of the cost has been paid and a guarantee has been provided for the part, which is gradually decreasing) for the alienation of 100% of the share.
And that its assets are no longer in the group’s security. This asset was sold to “Vellagio”, a person related to Alma, which is a subsidiary of Global Investors Limited (C38646), the 100% owner of the issuer.
In May of this year, “Vellagio” also purchased 50% of AE Energy LLC, a 100% subsidiary of the issuer, from Alma (25% - Tengiz Tsulaia, 16.6% - Gravity Investments, 8.4% - JSC Leteren).