3Q23 & 9M23 Performance Overview
SIGNIFICANT PROGRESS ON DELEVERAGING
GEORGIA
CAPITAL
SIGNIFICANT DECREASE IN NET DEBT,
REFLECTING STRONG CASH GENERATION
AND SUCCESSFUL REFINANCING OF
EUROBONDS
NET DEBT1 DOWN 25% Y-O-Y AND DOWN 13% Q-O-Q TO US$ 110 MILLION AT 30-SEP-23
I Net debt (US$ million) 1
Gross debt (US$ million)
In 3Q23, we completed the issuance of US$ 150 million
sustainability-linked bonds. The proceeds from the
transaction, together with the existing liquid funds of
GCAP were fully used to redeem GCAP's Eurobonds.
ON 26-OCT-23, S&P UPGRADED GCAP'S ISSUER
CREDIT RATING FROM "B+" TO "BB-"
Georgia Capital PLC | 1. Including guarantees issued.
363
304
151
-25%
146
126
-13%
110
30-Sep-22
30-Jun-23
30-Sep-23
STRONG LIQUIDITY AT GCAP, WITH US$ c.40 MILLION CASH AND LIQUID FUNDS
BALANCE POST EUROBOND REFINANCING
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