By Toni Weeks
San Luis Obispo, Calif., June 12 – JSC m2 has closed on a $10 million issue of 8.42% one-year bonds priced at par. The company is managed by JSC m2 Real Estate, a subsidiary of Bank of Georgia Holdings plc.
According to m2RE chairman Irakli Burdiladze, the deal’s books were built in less than three hours, with demand driven primarily by international and local wealth management clients.
The offering follows a $5 million issue of one-year 9˝% bonds that were issued by m2 earlier this month.
BG Capital, a subsidiary of JSC Bank of Georgia, was the agent for the deal.
“We are delighted to have completed our largest project to date and to have issued our second bond in a month, which, like the previous bond issuance, was met with considerable interest driving down the yield from 9˝% to 8.42%,” Burdiladze said in a company announcement with the London Stock Exchange.
The Bank of Georgia is based in Tbilisi, Georgia.
| Issuer: | JSC m2
|
| Amount: | $10 million
|
| Maturity: | One year
|
| Description: | Bonds
|
| Coupon: | 8.42%
|
| Price: | Par
|
| Yield: | 8.42%
|
| Settlement date: | June 12
|
| Price talk: | 9˝%
|
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