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Dentons advises on Bank of Georgia's GEL 450,000,000 11.50% Notes due 2028

November 26, 2025 – Dentons' Tbilisi office has acted as local counsel to J.P. Morgan, Citigroup, BCP Securities, Société Générale, Oppenheimer and Galt & Taggart, as Joint Lead Managers, on issuance of GEL 450 million 11.50% senior unsecured Notes by Lion Finance Group PLC’s banking subsidiary in Georgia, JSC Bank of Georgia. The Notes were issued in accordance with Reg S/Rule 144A and sold at an issue price of 100%. The Notes are listed on Euronext Dublin and are rated Ba2 by Moody's Investors Service Ltd.

The Dentons' team on the deal was led by Partner Avto Svanidze and included Senior Associates Neli Tsivtsivadze, Sopho Mebonia and Natela Otaridze, and Associates Lela Basilaia and Veriko Berekashvili.

Avto Svanidze commented: "We are delighted to work together with Sidley Austin LLP, international counsel, on the largest local-currency Eurobond from the private sector across the Caucasus, Turkey, and Central Asia in 2025. Our practice has longstanding history of working on Bank of Georgia capital markets transactions, such as its first corporate Eurobond listing, and its listing on the London Stock Exchange, the first international IPO from Georgia."

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