Georgia: bonds

Georgia is a country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe,

Georgia's main economic activities include cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals in small-scale industries. The country imports nearly all of its needed supplies of natural gas and oil products. It has sizeable hydropower capacity that now provides most of its energy needs. Georgia has overcome the chronic energy shortages and gas supply interruptions of the past by renovating hydropower plants and by increasingly relying on natural gas imports from Azerbaijan instead of from Russia. Construction of the Baku-T'bilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline, and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit point for gas, oil, and other goods. In mid-2014, Georgia signed an association agreement with the European Union.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
GEL 48 2 411 520 000
USD 1 500 000 000
corporate
USD 7 1 142 000 000
GEL 7 629 500 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Bank of Georgia, 11% 1jun2020, GEL - International bonds XS1577958488 11% 500 000 000  GEL 05/24/2017 06/01/2020
Bank of Georgia, 8% 5dec2018, GEL - International bonds XS1526092058 8% 21 000 000  GEL 11/18/2016 12/05/2018
BGEO Group, 6% 26jul2023, USD - International bonds XS1405775880 6% 350 000 000  USD 07/19/2016 07/26/2023
Georgian Oil and Gas Corporation, 6.75% 26apr2021, USD - International bonds XS1319820384 6.75% 250 000 000  USD 04/19/2016 04/26/2021
Georgian Railway, 7.750% 11jul2022, USD - International bonds XS0800346362 7.75% 500 000 000  USD 06/27/2012 07/11/2022
Georgia, 6.875% 12apr2021, USD - International bonds XS0617134092 6.875% 500 000 000  USD 04/05/2011 04/12/2021

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Georgian international bonds, USD bln 2.400 2.400 2.400 2.000 1.500 1.500 1.500
BIS net issues of international-bond market of emerging countries
International-bond net issue of Georgia, USD bln     0.400 0.300 0.000 0.000 -0.300

Currencies

Daily indices

Type: 06/23/2017 06/22/2017 06/21/2017 06/20/2017 06/19/2017 06/16/2017 06/15/2017
Exchange rates of Central Banks (CIS)
USD/GEL  2.4094 2.4131 2.4066 2.4050 2.4088 2.4130 2.4107
EUR/GEL  2.69 2.68 2.69 2.70 2.69 2.69 2.70
GEL/RUB  24.83 24.75 24.55 24.15 23.90 23.87 23.67
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Money market

Periodic indices

Type: Current value Change Last update
CIS Central Banks Rates
Refinancing Rate (Georgia), %  7.00 0 14.06.2017

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Georgia, 6.875% 12apr2021, USD   USD 04/12/2021 06/23/2017 ***.*** *.** 06/23/2017 *** *.**
BGEO Group, 6% 26jul2023, USD   USD 07/26/2023 06/23/2017 ***.** *.** 06/23/2017 ***.** *.**
Georgian Oil and Gas Corporation, 6.75% 26apr2021, USD   USD 04/26/2021 06/23/2017 ***.** *.** 06/23/2017 ***.** *.**
Georgian Railway, 7.750% 11jul2022, USD   USD 07/11/2022 06/23/2017 ***.** *.** 06/23/2017 ***.* *.**
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