BGI Legal has recently acted as counsel in the first-ever bond issuance in Georgian lari placed by the EBRD (European Bank for Reconstruction and Development) in Georgia. The two-year bond was equally subscribed by TBC Bank and JSC BG Capital, who acted as the lead managers and underwriters to the transaction.

The deal will undoubtedly support the development of the local capital markets and as Vakhtang Butskhrikidze, CEO of TBC Bank remarked, "This new bond issuance will increase access to local currency financing, which is an important source for business growth in Georgia".

Bruno Balvanera, EBRD Director for Caucasus, Moldova & Belarus said, “This is a very significant step for the Georgian local capital market. It brings a new instrument for investors and, at the same time, allows the EBRD to diversify its source of lari and to continue lending to companies in need of long-term financing in local currency".

Lasha Gogiberidze who led BGI's team commented, “In line with our long established tradition for representing clients in a flagship transaction, we are very proud to have been part of the effort in bringing this project to a successful conclusion”.