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GHG unit in GEL90m bond issue

17 July 2017 09:32

Georgia Healthcare Group's healthcare services business, JSC Evex Medical Corporation, has completed the private placement of GEL90 million local bonds due 2022.

GHG said the bonds were priced at an issue price 100% of their principal amount on 12 July.

They carry a floating coupon rate of 350 basis points premium over the National Bank of Georgia Monetary Policy (refinancing) Rate.

GHG said the proceeds would be used to refinance borrowings from local commercial banks, which were a relatively more expensive source of funding, and also to fund planned ongoing capital expenditures.

At 9:32am: (LON:GHG) Georgia Healthcare Group Plc share price was +0.13p at 372.63p

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