BSTDB has arranged to have the local currency funds through a private keeping GEL denominated bonds arranged by TBC Capital, a subsidiary of TBC Bank. Here is the first such offering from BSTDB.
“We are delighted to continue our partnership with BSTDB. The transaction is important not simply for TBC Bank as well as the entire financial sector simply because it enables us to supply loans in local currency that happen to be increasingly popular from customers and can enable TBC Bank to increase strengthen its position within the SME segment. This transaction reflects both institutions’ deal with continue cooperation therefore we look ahead to more several years of productive partnership. Moreover, the issuance with the bonds will support local capital market development” commented Vakhtang Butskhrikidze, CEO of TBC Bank.
“We are satisfied to remain our successful relationship with the long-standing partner, TBC Bank in order to present you with a supplement that eliminates currency risks. This first GEL denominated loan, offered by BSTDB, will support TBC Bank in stimulating economic growth and job creation through growth of Georgia’s SME sector. The latest, Georgian Lari denominated facility will complement BSTDB’s existing USD Millions of SME Loan Facility and USD Tens of millions of Trade Finance Facility with TBC Bank,” said Ihsan Ugur Delikanli, BSTDB President.
BSTDB?is a global bank established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters happen to be in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by loans, lines of credit, equity and?guarantees for projects?and trade financing in the private and non-private sectors in the member countries. The authorized capital from the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s.