Meta:

The bonds were placed on the Georgian Stock Exchange in the national currency, which allows the company to avoid currency risks.  "Nikora” will use the proceeds received from the bond placement to refinance its existing liabilities and finance the company's future development plans.

Bonds with 100% par value were fully placed. Their annual interest rate was determined by adding 3.5% to the three-month interest rate of the Tbilisi Interbank Lending Rate (TIBR3M).

The company received a credit rating from Scope Ratings and it was defined as BB- level.

Foot Locker:
Foot Locker released better-than-expected results for 3Q22, leading to the company stock surging 7.8%. The company outperformed forecasts in terms of both top and bottom lines: revenue came in $80mn above estimates at $2.17bn, while EPS stood at $1.27 vs $1.11 analyst consensus.  In addition to strong results, Foot Locker management also upgraded their full-year guidance.

1.    Starbucks:

Last week, the US inflation print came in hotter-than-expected at 8.2% vs 8.1% forecast. Even though the difference may seem subtle, it was large enough to pivot the positive investor sentiment and push forward the fears on future Fed hawkishness. As a result, S&P 500 has lost 1.8% while NASDAQ fell 3.2%. Interestingly, Dow Jones Industrial Average closed the week with a gain of 1.2%, helped by a stronger-than-expected betterment in the Michigan Consumer Confidence Index.

JSC "Georgia Renewable Energy Operations" ("GRPO") - a 100% subsidiary of Georgia Capital PLC ("Group" or "GCAP"), one of the leading platforms for renewable energy assets throughout Georgia, with the help of JSC "Galt & Taggart" " and LLC "TBS Capital", successfully placed the first green secured bonds on the Georgian market. $80 million 5-year bonds, so-called with a bullet payment schedule were issued and placed on October 12, 2022. It is worth noting that the bonds represent the largest corporate transaction in the local market.

The major U.S. equity averages finished the last session of Q3 with another day of losses on Friday, adding to recent weakness. With investors still concerned about aggressive Federal Reserve policy, the Dow and S&P 500 touched new lows for 2022. Trading took place amid PCE price data that rose more than forecasters expected. Meanwhile, comments from a top Fed official continued to point to a hawkish stance from the central bank. Ten of the 11 S&P sectors finished in the red during the last session of the quarter.

Investors fled for the exits on Friday, driving a selloff in both stocks and bonds to cap a brutal week, as the market has transitioned quickly from worrying about stubbornly high inflation to a sense of rising alarm over the Federal Reserve's aggressive tightening campaign. Benchmark indexes dipped below their year-to-date closing lows set on June 16. U.S. Treasury yields soared this week to levels not seen in more than a decade following the Fed’s moves, with the two-year yield jumping to as high as 4.26% and the 10-year yield hitting 3.82%.

FedEx: 
US equities experienced a further collective fall on Friday, after FedEx slashed its full-year guidance, warning of global recession. Being a delivery service provider of a rather exhaustive list of retail products, demand for FedEx’s services is strongly illustrative of general consumer demand in the economy. As a result, it was not just the company’s direct competitors, like DHL and UPS, that suffered on Friday, but rather a vast range of equities, including S&P as a whole. FDX fell more than 25% during the week.

All 11 sectors in the S&P 500 closed in the green for the week, with the consumer discretionary sector standing out as the top gainer. The Dow finished the holiday-shortened week up 2.8%, while the S&P 500 Index rose 3.6% and the Nasdaq shot up 4.2%.