GEORGIA'S SILKNET RAISES $300m IN LANDMARK EUROBOND ISSUE

Speaking on the news, Silknet CEO David Mamulaishvili said: "This successful fundraising is testament to how far Silknet has come in recent years. The new financing will improve the company's liquidity and help ensure we continue to deliver a high-quality service to our clients. Silknet is at the forefront of delivering high-quality, reliable communications services across Georgia. Today's news shows international investors recognise the strength of the business and its potential for future growth."

George Ramishvili, Silknet Chairman, said: "This successful refinancing is another sign that international markets increasingly recognise the significant investment potential Georgia has to offer. It is testament to the hard work of the Silknet team that we are today able to raise significant funds to continue to develop and grow the country's flourishing telecoms sector."

Furthermore, following proactive engagement with ESG rating's agency, Sustainalytics, they announced an improved ESG risk score for the company. Silknet now sits at the higher end of global telecoms companies in terms of the sustainability of their operations. 

The successful bond issue came despite a relative lack of new issues from emerging markets in recent months.

NOTES TO EDITORS

Key Facts­

About Silknet

Silknet is Georgia's leading telecommunications provider, delivering mobile, fixed broadband, pay television and fixed-line services to approximately two million customers across the country. The company started operating in 2010 as a fixed-telecom operator. In 2018 Silknet acquired major domestic mobile service provider, Geocell, in what was the largest purchase of one company by another in Georgian history. Silknet is a subsidiary of Silk Road Group, founded by Chairman George Ramishvili, which also operates businesses in the hospitality, entertainment real estate, energy and banking sectors.