Georgia Capital plans to price $300 million of five-year notes

By Rebecca Melvin

New York, Feb. 21 – JSC Georgia Capital, the investment business of BGEO Group plc, plans to market a $300 million offering of five-year senior notes (expected ratings: B2/B+), according to market sources on Wednesday.

The fixed-income investor meetings were slated to begin Thursday in London. Citigroup and JPMorgan are joint bookrunners and Renaissance Capital is a joint lead manager for the deal.

It is expected that Georgia Capital will be demerged this year from BGEO Group, which includes the JSC Bank of Georgia, but the independent company will retain a 19.9% equity stake in the bank.

BGEO, formerly Bank of Georgia Holdings plc, is a holding company of Bank of Georgia.

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