Latham Advises on Bank of Georgia’s US$300 Million AT1 Bond Offering

Latham & Watkins has advised Citigroup, J.P. Morgan, and BCP Securities, the Joint Lead Managers, on JSC Bank of Georgia’s offering of US$300 million 9.5% perpetual subordinated callable additional tier 1 notes. The notes were issued pursuant to Regulation S and Rule 144A and were listed on Euronext Dublin.

This was the first offering debt on the international capital markets by a Georgian issuer in 2024, and also the largest offering of subordinated debt by a Georgian bank to international investors.

The Latham team was led by London corporate partners Vladimir Mikhailovsky and David Stewart, with associates Alexander Kartyshev, Anastasia Sheyndlina, and Clive Wong.