ADB Anchors Georgia's First Sustainability Bond
Date
8/10/2024 3:09:38 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 10. The Asian
Development bank (ADB) has invested $15 million as an anchor
investor in a pioneering 3-year sustainability bond issuance by
Joint Stock Company BasisBank (BasisBank), Trend reports via the
ADB.
This bond marks the first certified sustainability bond issued
by a commercial bank on the Georgian Stock Exchange, designed to
fund green and social sector initiatives.
ADB's investment forms a significant portion of BasisBank's $20
million bond issuance, with the remainder raised from private
investors. The bond adheres to a sustainability bond framework
aligned with the International Capital Market Association's
Sustainability Bond Guidelines, with validation provided by Det
Norske Veritas. The issuance was arranged by TBC Capital and Galt &
Taggart.
As the fourth-largest bank in Georgia, BasisBank is a leading
provider of financing to small and medium enterprises. It manages a
loan portfolio of 2,684 million lari and operates through 39
branches, serving approximately 200,000 customers across the
country.
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