Investor Presentaiton
Debut green bonds from Georgia
Oversubscribed by 1.5x on debut green bond issuance amid COVID-19 outbreak
First ever green bonds from Georgia
In July 2020, the water utility business together with the operational/commissioned renewable energy assets, successfully priced and listed
debut green bonds on the Irish Stock Exchange
The issuance was met with significant interest both from institutional investors and IFIs
The issuer obtained Second Party Opinion from Sustainalytics, a leading provider of environmental, social and governance research and
analysis, for its Green Bond Framework
The issuance of the bonds significantly improves the financial flexibility of water utility business and boosts its liquidity
profile by moving from amortizing to bullet repayment structure, contributing to healthy growth of the business and
enhanced dividend capacity
Issuance overview
USD 250 million, 5NC2, 7.75% Green Bonds
Water utility capex and refinancing of existing debt
Notes:
Uses of proceeds:
Listing:
Irish Stock Exchange
Notes rating:
Sole bookrunner, Green
structuring agent,
Development finance
structuring agent:
Co-manager:
Demand:
Anchor investors:
B+ (Stable) by Fitch / B (Positive) by S&P
J.P. Morgan
TBC Capital
Book was oversubscribed by 1.5x
FMO, DEG, ADB and TBC Bank
Investors by geography
USA (6%)
Asia (14%)
Georgia (14%)
UK (13%)
Continental Europe (53%)
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