Georgia Capital PLC Financial and Operational Report
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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