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TBC Bank Group PLC - Financial services provider in Georgia and Uzbekistan - Subsidiary JSC TBC Bank signs syndicated subordinated loan agreement with FMO, a Dutch entrepreneurial development bank, in the amount of EUR80 million. The company says that the facility, which has a 10-year maturity, will "strengthen TBC's capital position, increase its long-term resilience, and support the bank's sustainable growth". FMO acted as lead arranger within the agreement, and provided funding alongside five other lenders, including the Finnish Fund for Industrial Cooperation Ltd, The Danish Investment Fund for Developing Countries, and a sustainable development goal-focused credit fund, ILX Fund.
JSC TBC Chief Executive Officer Vakhtang Butskhrikidze said: "We are proud to be the recipient of this landmark facility in partnership with six lenders. This funding will strengthen TBC's capital position and support its sustainable growth, with a strong focus on inclusive financing, which is a shared commitment and priority of all syndicate members. FMO was the first partner institution for TBC, with whom we successfully accomplished a debut syndicated subordinated facility a decade ago, and execution of another benchmark transaction is testament of well-established, strong partnership between our institutions."
Current stock price: 2,794.98 pence each, up 0.9% in London on Friday Morning
12-month change: up 19%
By Hugh Cameron, Alliance News reporter
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