BAKU, Azerbaijan, April 26
By Tamilla Mammadova – Trend:
Georgian Oil and Gas Corporation (GOGC) has refinanced Eurobonds of $250 million at London Stock Exchange (LSE), Trend reports via the GOGC.
As reported, the Eurobonds were placed at LSE in 2016.
The securities were refinanced with the financial component allocated to Georgia as part of the loan agreement with the European Bank for Reconstruction and Development (EBRD).
As a result, on April 26, the GOGC Eurobonds were fully covered.
GOGC signed the 10-year loan agreement in September 2020. Thanks to the new transaction, Eurobonds’ annual interest costs have been essentially reduced.
Georgian Oil and Gas Corporation is a diversified company with business activities in various segments of energy. It has the status of the National Oil Company and protects state interests in the Production Sharing Agreements signed with investors.
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