Tbilisi, July 19, 2017 - On July 12, 2017, a subsidiary of Georgia Healthcare Group, Evex Medical Corporation, completed the private placement of GEL 90 million local bonds due 2022. Galt & Taggart acted as the placement agent. Proceeds from the sale of bonds will be used to refinance borrowings from local commercial banks and to fund planned investment projects.
"I am pleased to highlight Galt & Taggart’s role in this important transaction. The goal of Galt & Taggart is to be the go-to provider of such services not only to international financial institutions, but also to growing Georgian companies. I would like to congratulate the team members at Galt & Taggart and Georgia Healthcare Group," commented Otari Sharikadze, Managing Director of Galt & Taggart.
“I am very pleased that Evex has completed another landmark transaction demonstrating our superior access to capital. I am glad that the transaction was met with considerable interest from investors and we completed the largest private placement of any corporate (other than commercial banks) in local currency ever done in Georgia. The issuance helps us to further build a longer-term, less expensive funding profile and contributes to the successful implementation of our strategy,” commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.