On July 19, 2010 Mr. Nikoloz Mchedlishvili, the Head of the Press Office of Georgian Prime Minister held a briefing for media representatives.
According to Nikoloz Mchedlishvili, at the end of the previous week "Georgian Railway" placed five-year obligations in the amount of 250 million dollars on the international financial market through the lead manager investment banks Bank of America-Merrill Lynch and JPMorgan.
"At first the said Banks named annual 10 per cent as the benchmark interest rate, though giving consideration to the demand for such obligations, the interest rate was slightly less than the named one - 9.875 per cent, and a coupon will be paid once in every six months. Nominal value of the "Georgian Railway" obligations totals 1000 and 100,000 US dollars.
This was preceded by the Road Show in great financial centers - in Switzerland, Germany, Great Britain, Singapore and Hong Kong. As you know, Prime Minister of Georgia Nika Gilauri visited London at the beginning of July concerning the Road Show.
"Georgian Railway" will use the attracted sum for funding the projects concerning construction and modernization of Tbilisi bypasses.
100 per cent of "Georgian Railway" is owned by the State and the company is conferred B+ rating by the rating agencies Standard & Poors and Fitch", - declared the Head of Press Office of the Prime Minister.
Press Office of the Prime Minister