Georgia’s corporate bond market is expected to see an additional GEL 150-200 million in new issuances by the end of 2026, according to investment bank Galt & Taggart. Despite rapid market growth in recent years, companies continue to show strong interest in issuing bonds.
Vano Kikvilashvili, Head of Capital Markets at Galt & Taggart, told BMG that significant potential remains among companies that have not yet entered the capital market. Many demonstrate strong corporate governance and financial performance, making them potential new issuers. The bank is already working with several interested companies.
Kikvilashvili noted that market growth is likely to slow after expanding five- to sixfold over the past five years. However, he believes there is still considerable room for growth and expects December to be particularly active, with GEL 150-200 million in additional bond issuances by year-end.
According to data for the first nine months of 2026, Georgia’s domestic corporate bond market reached GEL 2.649 billion. This included GEL 1.347 billion in lari-denominated bonds, GEL 1.181 billion in US dollar-denominated bonds and GEL 121 million in euro-denominated bonds.
