For the first time in Georgia: Basisbank Marks Successful Placement of Subordinated Corporate Debt Securities

Basisbank has successfully completed the placement of subordinated bonds in the amount of USD 10 million. The term of the bonds is 7 years, and the emission was done through private placement in accordance with the legislation of Georgia.

The purpose of the transaction is to develop the securities market of Georgia and attract additional secondary capital for Basisbank. In accordance with the bank's sustainable development policy, the funds will be directed to providing finance for retail, large and medium-sized businesses.

"The Georgian securities market is making strides and Basisbank is actively involved in this process. It is important for us to participate in these projects; thus, we support the development of the capital market in the country in order to ensure the stable and sustainable functioning of the banking system of Georgia. Capital increase will support the development of the bank, offering it additional financial resources for strategic and priority directions. I would like to thank our partners involved in this process for making such an important contribution to it," said David Tsaava, CEO of Basisbank.

"These bonds represent the first issue of this type on the capital market of Georgia and are the longest-term corporate debt securities issued to date. It is important that banks did not participate in the local capital market as issuers in the past. Basisbank's participation in the transaction is an important expression of the support for the local capital market. Appreciations to the management and transaction team of Basisbank for their contribution to the improvement of the capital market of Georgia. This transaction is an important step forward for Alpha Capital Advisor as an independent player of the capital market. We hope to contribute to the development of the capital market with many interesting transactions," said Irakli Elashvili, managing partner of Alpha Capital Advisor LLC.

Alpha Capital Advisor LLC was the bond issue placement agent, Legal Firm BLC LLC was the legal advisor, and Pasha Bank Georgia JSC was the payment and calculation agent.


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