Tbilisi (GBC) – Georgia’s sovereign Eurobond (GEORG) traded last week with a yield of 5.64%, closing the week at 99.07.

According to Galt & Taggart, the bond’s current Z-spread stands at 196.9 bps. The improvement in position is linked to the shortening of its remaining maturity. The 5-year bonds will mature in April 2026, and discussions with potential investors are already underway. The President of the National Bank and the Minister of Finance met with representatives of around 15 investment firms.

Meanwhile, Georgia Railway’s (GR) Eurobond (GRAIL), listed in London, traded last week at 94.4 with a 6.58% yield. As previously noted, GR’s $500 million bonds, issued on the London Stock Exchange in 2012 with a 10-year maturity and a 7.75% coupon, were redeemed early in 2021 with 7-year green Eurobonds carrying a 4% coupon.