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Bank of Georgia has signed agreement on a 10-year loan of 107 million USD

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BM.GE
17.12.19 17:58
1197
Bank of Georgia has signed a subordinated syndicated loan agreement of $ 107 million, with a maturity of 10 years.

Syndication agent of the agreement is FMO - Dutch entrepreneurial development bank. Initial participants jointly with the agent are DEG - Deutsche Investments-und Entwicklungsgesellschaft, Finnish Fund for Industrial Cooperation Ltd., Obviam, Swedish Development Finance Institute - Swedfund International AB, BlueOrchard Microfinance Fund (BOMF) and Symbiotics Group.

The resource is intended to be classified as a Bank Secondary Equity Instrument (with cash withdrawal and after the National Bank of Georgia approves the Classification of the Instrument) under Basel III Regulation and will further improve the Bank's capital positions.

“I am pleased that our long-term and successful partnership with FMO continues with this important deal. The subordinated loan will allow us to further improve our capital under the Basel III regulations,” said Bank of Georgia CEO Archil Gachechiladze.