Foresight’s long-term goal is to make bonds more attractive to retail investors and individuals, says Rati Morchiladze, representative of Foresight Brokers, while commenting on the GEL 200 million bond issue by Rico Express supported by Foresight. The issue aims to refinance GEL 130 million in bonds issued in 2023 and expand the company’s portfolio.
The transaction was carried out by Foresight Brokers, licensed by the National Bank of Georgia, in cooperation with “Enterprise Georgia”, and marks the first large-scale bond issue implemented by a non-bank independent financial institution. Morchiladze said the deal shows growing demand for alternative intermediaries in the local capital market.
According to him, the bond’s interest rate of TIBR + 3% is appropriate for current market conditions. While buyers are mainly commercial banks and the pension fund at this stage, Foresight aims to broaden participation by individuals, potentially with additional state support, and expects GEL-denominated bonds to become more attractive to retail investors in the coming years.
