Microbank MBC has successfully issued GEL 30 million in 2-year public bonds, marking the second and final tranche of its GEL 60 million bond program under the "Enterprise Georgia" Capital Market Support Program. The bond placement was supported by TBC Capital.
It is significant that investor’s demands exceeded the available volume of the issued bonds. The participation of local institutional investors in the issuance confirms the high confidence in the company.
The company will use the funds for the partial refinancing of bonds issued last year and for covering other financial obligations.
"We place special importance on the fact that MBC is the first microbank in the market to attract investment from the Pension Fund of Georgia. This issuance marks the final tranche of our GEL 60 million bond program. The strong participation of local institutional investors and the fact that demand exceeded supply - demonstrates the high level of confidence in MBC. The involvement of the Pension Fund of Georgia is a clear endorsement of our financial stability and investment potential, paving the way for further growth and development," said Gia Petriashvili, CEO of MBC.
