EBRD Invests in TBC Bank Georgia’s US$300 Million Capital Notes Issuance

EBRD Invests in TBC Bank Georgia’s US$300 Million Capital Notes Issuance

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has injected US$60 million into TBC Bank Georgia’s public placement of US$300 million Additional Tier 1 (AT1) capital notes, marking TBC’s return to international capital markets since 2019. This investment, subject to approval by the National Bank of Georgia, aims to bolster TBC Bank’s resilience, optimize its capital base, and diversify its currency composition. As a leading financial institution in Georgia, TBC Bank plays a vital role in the country’s economy, and the EBRD’s support reinforces its commitment to fostering sustainable economic growth in the region through strategic investments in the financial sector.

(PRESS RELEASE) LONDON, 1-May-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has invested US$ 60 million in capital notes issued by TBC Bank Georgia (TBC), participating in its public placement of a US$ 300 million, Basel III-compliant issuance of Additional Tier 1 (AT1) capital notes, to be listed on Euronext Dublin (Global Exchange Market). This is TBC’s first benchmark issuance since the inaugural placement in 2019.

The investment will help strengthen TBC Bank’s resilience, optimise the bank’s capital base and diversify its currency composition. It will also support the preservation of prudent capital buffers, insulating the capital base against currency fluctuations and enabling a continued flow of credit to the real economy.

TBC Bank Georgia, a long-standing partner of the EBRD, is one of the largest financial institutions in the country, with a leading retail and corporate-banking franchise. The bank is owned by the UK-incorporated public holding company TBC Bank Group, which is listed on the London Stock Exchange.

To date, the EBRD has invested more than €5 billion in 293 projects in the financial, corporate, infrastructure and energy sectors in Georgia, with 82 per cent of those investments in the private sector.

Media Contact:

Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com

SOURCE: EBRD