The European Bank for Reconstruction and Development (EBRD) has invested $50 million in the first 'green bond' issued by Georgian Railway (GR), Trend reports via the EBRD.
As reported, the bond has a total volume of $500 million and a seven-year maturity.
Priced on 10 June, subscribed to by local and international investors, with a settlement date of June 17, the bond will be traded on the London Stock Exchange.
The proceeds will be used to refinance GR’s existing notes, which are maturing in 2022.
“This is a landmark deal for Georgian Railway and Georgia. We are proud to be part of this successful green bond placement. The EBRD plans to scale up its green finance in the region to support countries and businesses in their transition to net-zero emissions,” said EBRD Director and Head of Infrastructure Eurasia Ekaterina Miroshnik.
The EBRD is a leading institutional investor in Georgia. To date, the Bank has invested more than 4 billion euros in 262 projects in the financial, corporate, infrastructure and energy sectors, with 79 percent of those investments in the private sector.