GCAP to redeem US$ 100 million local bonds
GCAP to redeem US$100 million of its US$150 million local bonds early, reducing debt by two-thirds.
- Bonds to be redeemed US$100 million
- Residual outstanding bond balance US$50 million
- Original bond maturity August 2028
- Capital return programme GEL 700 million
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Georgia Capital PLC (the "Company" or "GCAP") announces that its board of directors (the "Board") has today approved the exercise of JSC Georgia Capital's ("JSC GCAP"), the Georgian holding company of GCAP's businesses, call option, in accordance with the Terms and Conditions of the Prospectus. The call option will be utilised to redeem early a significant proportion of JSC GCAP's US$ 150 million sustainability-linked local bonds (ISIN: GE2700604475), which would otherwise mature in August 2028.
Following the redemption, the outstanding principal amount of the bonds will be reduced by US$ 100 million to a residual outstanding balance of US$ 50 million. Settlement of the early redemption transaction is expected to occur on 26 September 2025.
The transaction is consistent with the Company's GEL 700 million capital return programme, announced on 6 August 2025, which will run through the end of 2027. This covers capital returns through share buybacks, dividends, and the early repayment of JSC GCAP bonds.
| S&P Global | 'BB-'/FC & 'BB-'/LC | ||
| Chairman and Chief Executive | Chief Financial Officer | Adviser to the Chairman & CEO | Head of Investor Relations |
| ir@gcap.ge | +995 322 005 000 | +44 203 178 4034 | + 995 322 005 045 |
| ir@gcap.ge | ir@gcap.ge | ir@gcap.ge |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.