Georgia sees record $2.8 billion demand for eurobonds, PM

International investors have shown record demand of $2.8 billion for Georgia’s eurobonds, Prime Minister Irakli Kobakhidze said, noting that this was 5.5 times higher than the amount offered and reflects strong investor confidence.

The government successfully issued $500 million in eurobonds on the London Stock Exchange, with a fixed interest rate of 5.125%, the best level for Georgian sovereign eurobonds in the past four years for a country with a similar or slightly higher credit rating, he said. 

“Over 100 international investors participated in the transaction. The fact that investors view Georgia as low-risk and are willing to invest $2.8 billion in our bonds shows very high confidence in our fiscal and economic policies,” Kobakhidze noted.

He also extended special thanks to Finance Minister Lasha Khutsishvili for his role in the successful issuance.