EBRD invests US$25 million in sustainability-linked bond in Georgia

The European Bank for Reconstruction and Development (EBRD) is continuing to support capital market development in Georgia by participating in the first sustainability-linked bond (SLB) in the Caucasus. The Bank is investing US$25 million in Georgia Capital’s (GCAP) US$150 million corporate bond, which is also the country’s largest ever corporate offering.

GCAP will primarily use the proceeds to refinance its existing Eurobonds, to enhance the robustness of its capital management and to boost its investment capabilities. As set out in the underlying SLB framework, the issue is also in line with GCAP’s net-zero ambitions; the company has committed to reducing CO₂ emissions across its businesses by 20 per cent by end 2027.

The EBRD has a long-standing relationship with GCAP and has engaged with it and its subsidiaries on a number of occasions. GCAP is a holding company for a diversified group of businesses operating in sectors including healthcare services, retail pharmacies, insurance and renewable energy. 

The EBRD has invested almost €5 billion in Georgia to date through 286 projects, with 82 per cent of those in the private sector. The Bank’s key areas of investment include the financial sector, sustainable infrastructure and small and medium-sized enterprises.

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Press release