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Bank of Georgia Receives USD 123.5 Million Syndicated Loan

Bank of Georgia said on August 15 it had completed the placement of its debut USD123.5 million syndicated loan transaction.
It also said the deal was oversubscribed, which led to an increase in the size of the loan by USD 23.5 million from the initial target of USD 100 million. Citi and Asian Development Bank (ADB) were the arrangers.

“Citi, ADB and our funding team have done a very good job,” Lado Gurgenidze, chairman of the supervisory board at the Bank of Georgia, said. “We will build on this transaction and come back to the syndicated loan market every year.”

In a separate deal, the Bank of Georgia has secured USD 35 million 10-year subordinated loan organized by Merrill Lynch.


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