IMF Resident Representative: Georgia’s eurobond oversubscribed 5.5 times, showing strong investor confidence
Economy
Andrew Jewell, the Resident Representative for Georgia at the International Monetary Fund, on Friday said Georgia’s recent eurobond issuance reflected the country’s stable macroeconomic indicators, including robust real GDP growth, relatively low public debt, and record-high international reserves at the National Bank.
The Georgian Government successfully issued $500 million in eurobonds on the London Stock Exchange, with a fixed coupon rate of 5.125%. This coupon rate is the lowest for Georgian sovereign eurobonds with similar or one-notch higher credit ratings in the past four years.
“The fact that the eurobond issuance was oversubscribed by 5.5 times indicates strong investor interest and confidence in Georgia’s economy”, Jewell noted in his interview with Business Insider Georgia.
Demand from international investors for Georgian debt reached a record $2.8 billion - 5.5 times the amount offered on the market. More than 100 international investors participated in the transaction.
“Against this backdrop, we did not anticipate that the government would face difficulties refinancing the eurobond maturing in April 2026”, the IMF representative added.
