“Silk Real Estate” issued the first 1-year public bonds on the local market

The Bonds amounted to 7-million euro Silk Real Estate, one of the leading companies in Georgia’s real estate and hospitality sectors, has issued and listed the first-ever 1-year euro-denominated bonds on the Georgia Stock Exchange, with the support of TBC Capital, Galt & Taggart and Silk Bank. The nominal value of the placed bonds currently stands at 7 million euros. In April 2023, Silk Real Estate issued and placed its first USD 20 million tranche with a 9.00% coupon. The second USD 20 million tranche, successfully issued in September 2023, carried a 9.25% coupon. These offerings attracted significant interest from both local and international investors. The euro-denominated bonds carry a 7.0% coupon. The proceeds from this bond issuance will be used to refinance existing liabilities. The third bond placement of the company on the Georgia Stock Exchange underscores the company’s steady growth, successful partnerships, and ongoing success. Mamuka Shurgaia – Executive Director of “Silk Real Estate”: “Silk Real Estate has made another bond issuance on the stock exchange, marking the company’s first euro-denominated 1-year bonds. Last year, the total value of bonds issued amounted to USD 40 million. I would like to extend my gratitude to everyone who contributed to this success for their work and professionalism.” Aleksi Khoroshvili – General Director of Silk Bank: “We are pleased that, in collaboration with Galt & Taggart and TBC Capital, we have once again facilitated the successful placement of Silk Real Estate bonds. As Silk Bank and Silk Real Estate are part of the same group, it is particularly important to us that our bank’s clients were given the opportunity to purchase Silk Real Estate bonds, this time denominated in euros.” Ketevan Toidze – Galt & Taggart, Deputy Director: “We are pleased to continue our active collaboration with Silk Real Estate and have successfully placed our third bond issuance. Notably, this transaction marks the first-ever issuance of 1-year bonds in the Georgian capital market. It is important for us to consistently offer innovative products tailored to the goals and needs of both companies and investors. We hope to achieve many more successful issuances in the capital market together with Silk Real Estate.” Mary Chachanidze – TBC Capital, Managing Director: “I am pleased that Silk Real Estate has successfully placed first-ever 1-year euro-denominated bonds, attracting a new type of investors interested in short-term products. We supported Silk Real Estate’s inaugural issuance in 2023 and continue to assist the company in finding alternative funding sources through the capital market. It is significant that one of the leading and largest brands in the real estate and hospitality industry operates successfully in the market. Their progress not only benefits the group but also makes the country more attractive to both local and international investors.”