Asian Development Bank (ADB) completed its second GEL-denominated bond offering on July 6, 2016. JSC Galt & Taggart served as the sole placement agent for the GEL 64 million issuance at a floating coupon rate equivalent to the 3-month (91-day) National Bank of Georgia Certificate of Deposit plus a 20 basis point spread with a maturity of three years.
“I am pleased to note Galt & Taggart’s role in the successful issuance of ADB bonds. We strive to be the go-to provider of such services for not only the international financial institutions, but for growing Georgian companies trying to gain access to additional sources of capital. I would like to congratulate the entire team that worked on this important transaction,” commented Archil Gachechiladze, Chairman of Galt & Taggart.
For inquiries please contact Galt & Taggart via email at gt@gt.ge.
About ADB
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.
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Press Release
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