REG - Georgia Capital PLC - Healthcare Services prices GEL 350m bond offering

Georgia CapitalAnnouncement

12/09/2025 07:00

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RNS Number : 0470Z  Georgia Capital PLC  12 September 2025

London, 12 September 2025

 

 

Healthcare services business prices a GEL 350 million bond offering

Georgia Capital PLC (the "Company" or "GCAP") announces that JSC Georgia
Healthcare Group ("GHG"), the Georgian holding company of GCAP's healthcare
services 1  business, has successfully priced a GEL 350 million secured social
bond offering (the "Notes") on the Georgian market. The Notes are
GEL-denominated with 5-year bullet maturity and carry a floating coupon, as
determined by Tbilisi Interbank Interest Rate (Non-Cumulative Compounded Daily
TIBR) plus 375 basis points. The Notes are issued at par and are rated BB- by
Scope Ratings. Settlement of the transaction is expected on 17 September 2025,
followed by admission to the Georgian Stock Exchange.

GHG obtained a Second-Party Opinion from Scope, confirming that its Social
Bond Framework aligns with ICMA's 2023 Social Bond Principles. Galt &
Taggart and TBC Capital acted as placement agents for the issuance of the
Notes. The issuance was supported by long-standing partner international
financial institutions ("IFIs") - International Finance Corporation ("IFC"),
and Asian Infrastructure Investment Bank ("AIIB") along with local banks and
Pension Fund of Georgia - whose participation represents the fund's biggest
investment in a single local bond issuance since its inception.

The proceeds will be used to refinance the issuer's existing long-term loans
and to finance capital expenditures in line with the Social Bond Framework.
Upon completion, the Notes will constitute the business' sole outstanding
debt.

 

Irakli Gilauri, Georgia Capital Chairman and CEO commented: "I am pleased that
our healthcare services business has successfully completed the largest-ever
GEL-denominated corporate bond placement in Georgia. The transaction received
very strong support from investors, demonstrating that Georgia's capital
markets continue to develop rapidly and, thanks to the support of local
investment banks, Galt & Taggart and TBC Capital, have become a
significant alternative source of capital for our group. I would like to thank
the management team and our long-standing partners - IFC, AIIB, and Pension
Fund of Georgia - whose efficient collaboration made this transaction a
success. The Notes mark another important milestone for our group and once
again reaffirm our superior access to capital."

 

 

 

Name of authorised official of issuer responsible for making notification:
Shalva Bukia, Head of Investor Relations and Funding

About Georgia Capital PLC

Georgia Capital (LEI: 213800Q65T5GNBOW7H65) is a platform for buying, building
and developing businesses in Georgia with holdings in sectors that are
expected to benefit from the continued growth and further diversification of
the Georgian economy. The Company's focus is typically on larger-scale
investment opportunities in Georgia, which have the potential to reach at
least GEL 300 million equity value over 3-5 years from the initial investment
and to monetise them through exits, as investments mature. Georgia Capital
currently has the following portfolio businesses: (i) a retail (pharmacy)
business, (ii) an insurance business (P&C and medical insurance), and
(iii) a healthcare services business. Georgia Capital also holds other small
private businesses across different industries in Georgia and a 19.1% equity
stake (as at 30-Jun-25) in LSE listed Lion Finance Group PLC ("Lion Finance
Group" or "LFG"), formerly known as "Bank of Georgia Group PLC", the holding
company of leading universal banks in Georgia and Armenia.

 JSC Georgia Capital has, as of the date hereof, the following credit rating:

 S&P Global      'BB-'/FC & 'BB-'/LC

 For further information, please visit www.georgiacapital.ge
(http://www.georgiacapital.ge) or contact:

 

 Irakli Gilauri                  Giorgi Alpaidze                 Michael Oliver                     Shalva Bukia
 Chairman and Chief Executive    Chief Financial Officer         Adviser to the Chairman & CEO      Head of Investor Relations
 ir@gcap.ge (mailto:ir@gcap.ge)  +995 322 005 000                +44 203 178 4034                   + 995 322 005 045
                                 ir@gcap.ge (mailto:ir@gcap.ge)  ir@gcap.ge (mailto:ir@gcap.ge)     ir@gcap.ge (mailto:ir@gcap.ge)

This news report is presented for general informational purposes only and
should not be construed as an offer to sell or the solicitation of an offer to
buy any securities.

 1  The healthcare services business combines hospitals, clinics, and
diagnostic businesses.

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