The real estate development company “Lisi Development” (JSC “Lisi Lake Development”) implemented emission of the bonds in the amount of 12,000,000, which is 2018, in the corporate public bonds segment was the biggest transaction. The binds were allocated via public emission and that was the very first bond issued by the company. The bonds emission was secured by the TBC Bank affiliated company – brokering company TBC Capital. Resident and non-resident natural bodies and legal entities invested into the bonds as well as the institutional investors. It shall be underlined that most amounts of the bonds were completely new means attracted from non-residents, which is the new investment capital incoming into Georgia. The bonds will be listed at the Stock Exchange of Georgia, which also means that the securities will be allowed in the future into the system of the international depository company for the securities – Clearstream Banking S.A., which would make the bonds available for the international investors. The company “Lisi Development”, upon being established, sets the international standards at the market of the real estate of Georgia. Before the company allocated the public bonds, Lisi Development became the very first development company in Georgia, which obtained an international credit rating. This is one more step made forward from the point of view of improvement of the corporate management in Georgia as well as the increase of transparency. Besides, it is very significant for us, that the majority of the investors, who purchased our securities, are non-resident entities, which means additionally attracted investment in our country. Before, the projects of the company have been funded only by international financial organizations, in particular, FMO. We believe that the increasing market of the capital in Georgia would be a good alternative for funding of the companies in the future,” – Director General of Lisi Development – Nodar Adeishvili said. “The indicated transaction is the biggest deal in the corporate public bonds segment, which has been carried out in 2018. We are glad, it is again that we work with the leading player of the industry – Lisi Development, assisting the company in the finding of the alternative sources of funding, by means of the capital market,” – Director of TBC Capital – Irakli Elashvili suggested. The bonds, the total general amount of which is 12,000,000 (twelve million) USD, and the accrued interest – 8%, which become mature on 17 December 2021, have been issued on 17 December 2017, as the bonds of the nominal value of 10,000 (ten thousand) USD, and they will be rebought on 17 December 2021, with their general value. The company will use the means attracted from the bonds in two directions: 1) With the part of the attracted means, construction of the premium residential complex at the Black Sea shore, in the resort Buknari will be funded; 2) And the other part of the issued bonds will be used for the infrastructural development of the land of the area 40 ha at the territory adjacent to Lisi Lake, and subsequent construction of the second sector of the villas at the territory of the Green City at Lisi. Lisi Development is the leading development company of the real estate premium segment in Georgia, which in the framework of the group holds 350 ha land plots at the territory adjacent to Lisi Lake. In 2017, the Company purchased the land plot at the Black Sea shore, and now is planning to develop the multifunctional facility and hotel. In July 2018, the international rating company Scope Ratings GmbH assigned the rating B+ to the company, with a stable prospect. Lisi Development is the only company in the real estate sector in Georgia, which has an international credit rating. TBC Capital is the affiliate of TBC Bank and licensed brokering company, which offers to the customers the investment banking service. Starting from 2017, TBC Capital became part of the corporate and investment banking business of TBC Bank. The main business directions of the company are the following: financial consultancies and credit rating service, bonds and shares emission, investment research, and brokering activities. TBC Capital is the shareholder of the Stock Exchange of Georgia and plays a significant role in the development of the infrastructure of the stock exchange
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