By Susanna Moon
Chicago, Dec. 19 – Georgia’s BGEO Group plc said subsidiary m2 Real Estate sold $25 million of 7½% three-year local notes at par.
The group’s investment banking and brokerage subsidiary, Galt & Taggart, was the placement agent, according to a company announcement.
Proceeds will be used to refinance m2’s existing bonds and to finance planned real estate development projects.
m2 is the group's real estate subsidiary. BGEO, formerly Bank of Georgia Holdings plc, is a holding company of JSC Bank of Georgia.
Issuer: | m2 Real Estate
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Issue: | Local currency notes
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Amount: | $25 million
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Maturity: | Three years
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Agent: | Galt & Taggart
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Coupon: | 7½%
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Price: | Par
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Yield: | 7½%
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Pricing date: | Dec. 19
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