BGI Legal's team, led by Lasha Gogiberidze and Sandro Bibilashvili, has just completed its advice to the lenders on the USD 250 million facility to Adjaristsqali Georgia in respect of the financing of the largest private hydropower investment project in Georgia, the Shuakhevi hydropower scheme. The project aims to export power to Turkey by the end of 2016 for nine months each year through the 400kV cross-border Akhalskhe-Borcka transmission line and sell domestically for the remaining three consecutive winter months.

The lender group of Asian Development Bank, European Bank for Reconstruction and Development and International Finance Corporation together provided  a loan facility of USD 250 million. IFC was a lead arranger for the financing and is also an equity investor in the project company. The sponsors of the project are India's Tata Power (40%), Norway's Clean Energy Invest (40%), and IFC (20%).

The team at BGI Legal is delighted once again with its position as a top ranked firm in the latest publication of Chambers Global. The legal directory, which has just published its latest rankings, now includes four of BGI Legal's team including a new ranking for 'up and coming' lawyer, Sandro Bibilahvili. Both partners, Zaza Bibilashvili and Lasha Gogiberidze are highly acclaimed and comment is made on the high visibility of counsel, Ekaterina Aleksidze, particularly in advising banks.

The rankings affirm the continuing strength of the team at BGI Legal. 

The Asian Development Bank (ADB) has just completed a deal worth GEL100 million (approximately $48.54 million) from its first ever sale of Georgian lari bonds with BGI Legal acting as local counsel for the underwriter (TBC Broker LLC, a subsidiary of TBC Bank JSC) in the bond issuance leg of the transaction. The proceeds of the bond issue have been lent to TBC Bank and will be used to provide investment and support the development of small businesses in Georgia.

"BGI Legal is extremely pleased to have been involved with this largest ever lari bond offering which will undoubtedly make a significant difference for small businesses in Georgia and indeed have an impact on the Georgian economy as a whole", said partner, Lasha Gogiberidze.

For more information on the deal, please follow the links below:
http://cbw.ge/home/tbc-bank-obtains-gel-100-million-loan-from-adb/

http://www.finchannel.com/index.php/opinion/press-releases/item/40341-adb-sells-largest-georgia-lari-bond-to-boost-capital-market-small-companies

BGI Legal has also recently acted for another IFI in a GEL denominated bond issue, more details of which can be found in the following link: http://ifcext.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/1F87C331263B820785257DEF00533EE0?OpenDocument

BGI Legal is delighted to advise that Lasha Gogiberidze has been re-elected to serve another two-year term following the recently held elections for seats on the Board of Directors at AmCham's annual General Assembly meeting on October 23rd 2014. 

AmCham Georgia is the leading international business association supporting and promoting US and Georgian economic and commercial relations and representing the interests of businesses in Georgia. Its work covers a broad range of areas of interest to its members and potential investors.

For further information please follow this link: http://amcham.ge/diary_item.php?item=141

Photos of the event are also available to view :  http://amcham.ge/album.php?item=141