Tbilisi (GBC) – “Nova” has announced a 5-year bond issuance, with TBC Capital acting as placement agent.

The issuer, which started operations in 2006 by importing construction materials, has been a multi-profile company since 2011. Its annual revenue exceeds GEL 200 million.

“Nova” owns seven shopping centers (including two operating under a franchising model) across nine cities: Tbilisi, Batumi, Kutaisi, Telavi, Gori, Marneuli, Khashuri, Chiatura, and Akhaltsikhe. The company also has a presence in Armenia through a franchising agreement; a partner company produces polyethylene tanks.

The company plans to issue bonds with a total value of up to GEL 80 million.

From the first GEL 50 million tranche, GEL 40 million will be used to refinance bank loans, GEL 6 million for capital expenditures, and GEL 4 million for working capital financing.

Subsequent GEL 30 million tranches are intended for further refinancing of the company’s loan obligations.

Nova Bond Issue

Currency

GEL

 

Nominal

1 000

 

Interest rate(%)

TIBR6m+325

 

Volume

 50 000

 

Value

 50 მლნ

 

Payment Date

12/2030

 

Source: Issuer

The company plans to refinance its loan obligations with the next 30 million-dollar tranches.