TBC Capital has successfully completed placement of Silknet bonds. The volume of the bonds is 34 mln GEL. This was the first time when a company issued bonds to the Georgian telecommunication market.
The tenor of the bonds is 5 years. Annual coupon is 3,5% added to the refinancing rate of the National Bank of Georgia. The bonds have been procured by banks operating in Georgia.
“We’re happy to have an opportunity to assist our partner and the leading telecommunication company Silknet to perform major emission in Georgia. This emission will facilitate growth and further development of the company”, – stated Giorgi Tkhelidze, Deputy Director General of TBC Bank.
“By making this step, Silknet turns into an absolutely financially transparent player in the telecommunication space of Georgia, at the same time becoming a more attractive company for the capital market. To achieve this goal, we made many steps and we’ve been happy to have as a partner a financial institution like TBC Capital. It is important that Silknet is the first Georgian company at the telecommunication market to issue Georgian lari nominated bonds”, – stated Ilia Enukashvili, Head of Silknet Strategic Development Service.
According to the data of the first 6 months of 2017 (GNCC), Silknet owns 41% of the fixed internet market in Georgia, 30% of the market at broadcasting transit (IPTV) and serves 48% of the landline telephone network users.
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