The Government of Georgia successfully issued Eurobonds in the amount of USD 500 million on the London Stock Exchange, with the coupon rate set at 5.125%. This issuance sets a new benchmark for the Eurobond market, representing the lowest coupon rate among Eurobonds issued by countries with a credit rating comparable to Georgia’s, as well as by countries with a one-notch higher credit rating, over the past four years.

 The newly issued Eurobonds were used to refinance the 2021 Eurobonds. Beyond raising financial resources, the new issuance is important for two reasons: it establishes the country’s risk level and measures international investors’ interest and confidence in the country and its economy.

 The Eurobonds issued by the Government of Georgia were successful on both directions. Specifically, the country’s risk level declined by more than 50 basis points, or over 25%, while demand from international investors for Georgian securities reached a record high of USD 2.8 billion, which is 5.5 times the amount offered in the market. In total, more than 100 international investors participated directly in the transaction.

 The fact that international investors from the Americas, Europe, and Asia perceive Georgia as significantly less risky and are willing to invest USD 2.8 billion in Georgian securities indicates very high interest and confidence in the Georgian government’s reforms and its fiscal and economic policies.

 Through issuing securities on international markets, Georgia is expected to become more active in the future, not only in Eurobonds but also in other markets. During investor meetings, strong interest was observed in securities denominated in GEL.