OREANDA-NEWS. On April 17, on the briefing which was held after the cabinet meeting, the Prime Minister of Georgia Vladimer Gurgenidze spoke about the debut emission of the Georgian sovereign Euro-bonds.

– "We can declare officially that the debut emission of the Georgian Euro-bonds amounting to 500 million dollars has been successfully accomplished. I would like to mention several facts emphasizing the said success: the interest rate amounts to 7.5%; – during the last two years, all the debutant state at this market failed to gain this resource for such an inexpensive price. Book building or the application process lasted for 6 hours only and within this short period of time we received applications on purchasing the bonds from more than100 investors from about 23 countries.

In total, these applications amounted to 1.6 billion USD; by this, we have thrice and even more times exceeded the desirable number or the threshold beyond which we never planned issuing any more. The geography of the investors is also known: Great Britain – approximately 48%, the USA – 16.4%, Germany – 6.9%, Denmark – 4.6%, France – 3.6%, Austria – 3.4%, Italy – 2.5% and Switzerland – 2.2%.  Georgia has become the 4th country from the CIS countries which has allocated the Euro-bonds. Only Russia, Ukraine and Kazakhstan managed to do the same. I would also like to tell you that in 2008, the Euro-bonds were not issued by any other CIS country (neither of the above mentioned three among them), yet Georgia was an exception.

All this is connected with the situation which has been created this year at the global financial market. At the background of this complex situation, during the recent 2 months, no one endeavored to allocate the Euro-bonds except Georgia and GasProm. They did it 4 days earlier than we did. In that case they allocated the amount of bonds that they needed. Despite the fact that GasProm is ranking much higher than Georgia in credit credibility, the interest rate on its bonds amounted to 8.1% whereas we managed to allocate 7.5%. Thus, the high credibility extended to Georgia by the investors and a keen interest to Georgia’s economy has been proved one more time; many investors learned extra information about the reforms undergoing in present-day Georgia, They discussed the dynamism that our country has experienced during the last few years. In effect, we’ve got the debut emission or in other words, a simplified passage to the world credit markets”, – the prime minister stated.