TBC and EIB sign EUR 31.25 million guarantee agreement to support Georgian companies

The Cascade Power Plant Management Company is issuing $10 million 2-year bonds (nominal value: $1,000). The loan bonds have no credit rating. They are green, unsecured, unsubordinated obligations.The issue was authorized by the decision of the Supervisory Board (Chairman Mindia Sabanadze, Director Giorgi Shukakidze) dated June 3, 2025.Key characteristics:Total Nominal Value – 10 million USD;Nominal Value - 1,000 USD;Issue Date – 22 June 2022;Maturity Date – 22 June 2025;Annual Coupon Rate – 8.5%;Maturity Date - 23.06.2027EDG's existing portfolio of assets includes 3 hydroelectric power plants.All of the Issuer’s power plants, except for Sashuala HPP, benefit from a long-term guaranteed power purchase agreement (“PPA”) with the Power Market Operator (ESCO), which results in predictable dollar-denominated cash flows, as the power purchase agreements are fixed in US dollars.The PPA allows the Company to sell electricity exclusively to ESCO for 8 months (September-April) at a maximum price of 6.00 US cents/kWh. The remaining 4 months are sold on the basis of direct contracts, in the local market and for export.The bond issue is planned to fully refinance the existing bonds (ISIN: GE2700604459). The interest rate on the bonds to be repaid was also 8.5%, the issue amount is TBC Capital. However, the group also cooperates with G&T.The securities will also be listed on the Georgian Stock Exchange.

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Salaries in the finance and insurance sector have increased by 22% annually, to 5.5 thousand GEL.There are up to 4.2 thousand employees in the information/communications sector (+5.2%y.y) and a specialist in professional/scientific/technical sectors receives up to 3,000 GEL per month (+11.3%Y.Y).The average salary of employees in the construction sector has increased by 10.8% annually, to 2,909 GEL.The average salary of a woman – GEL 1,744 still lags behind the average salary of a man – GEL 2,601, 1.5 times. However, the annual increase in women's salaries (+13.3%Y.Y) has outpaced that of men (+11%Y.Y).

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There are only 4,821 citizens in the portfolio to date.The net nominal return for May itself was 2.42%, and the real return adjusted for inflation was 1.98%.In May, 48% of the total portfolio remains in Georgia, instead of 48.6% in April, when the portfolio size was GEL 39.1 ​​million. The largest share of the local portfolio falls on certificates of deposit and term deposits - 40.2% (April - 39.5%).The fund invested 47.9% of its risky portfolio in global equities in May (-0.1pp m.m), while it held 4.2% in treasury bonds (+0.8pp m.m).In accordance with the law, a minimum of 40% and a maximum of 60% of the fund's high-risk assets are allowed to be invested in foreign currency-denominated assets and equity securities.

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As of the statistics published by NBG on Monday, the maximum share of remittances falls on the European Union countries, amounting to 44.1%, corresponding to $140.1 million. Among the European Union countries, it is worth noting the high share of Italy, Germany and Greece in total remittances, while the total annual growth rate was determined at 16%.In addition, the growth trend of remittances from the United States continues. In particular, an annual increase of 25.2% was recorded and the volume amounted to $59.1 million.Remittances from the Russian Federation are characterized by a decreasing trend. In particular, in May they decreased by 9.2% annually amounting to $43.7 million.In May 2025, $35.2 million (GEL 96.5 million) was sent abroad from Georgia, which is 16.8% more than the similar figure in May 2024 ($30.1 million).

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TBC Bank Group PLC ("TBC PLC") announces that the Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payment for 2024 will be 3.6965, being the average exchange rate of the National Bank of Georgia for the period of 9-13 June 2025 inclusive (5 days average).On 11 April 2025 (being the last business day prior to publication of this notice), the Company’s issued share capital comprised 56,211,873 ordinary shares carrying one vote each including ordinary shares held as treasury shares. As at such date, the Company held no ordinary shares as treasury shares. Therefore, the total number of voting rights in the Company as at 11 April 2025 is 56,211,873.Shareholders at the Annual General Meeting (AGM) approved by 100% of the votes cast the final dividend for the financial year ending 31 December 2024. The Group will pay the dividend on 11 July 2025 to shareholders who were registered on the Company's register of members as at 6 June 2025, London time.

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As head of the commission Tea Tsulukiani stated before the session, Gakharia has already been notified and is expected to appear for further questioning on June 23. The inquiry will focus on the villages of Chorchani, Tsaghvli, and surrounding areas.“We will re-interrogate Giorgi Gakharia on June 23. The notification procedure has begun and is ongoing to ensure full legal compliance. I hope Mr. Giorgi will appear so we can continue discussing the situation in villages where, according to him, not a single centimeter of land was lost under his decision to place a checkpoint. However, last week, a Tsaghvli resident testified that the entire forest had been taken over, and Russia advanced further into Georgian territory”, - Tsulukiani said.She noted that this contradiction between Gakharia’s statements and local testimony requires further clarification.“In addition to territorial issues, Gakharia will be questioned about the period from his 2021 resignation to the present, including his and his party’s international activities”, - Tsulukiani added.

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Beraia previously led the Investigation Service of the Ministry of Finance. Born on July 23, 1976, he graduated with honours in Economics from Ivane Javakhishvili Tbilisi State University in 1998.From 2016 to 2025, Beraia served as a member of the 9th, 10th, and 11th convocations of the Parliament of Georgia and also held the position of Deputy Minister of Justice.He succeeds Levan Kakava, who resigned as Head of the Revenue Service on June 16 after serving in the role since 2019.

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Lion Finance Group (BGEO LN) shares closed at GBP 66.05/share (- 4.14% w/w and -1.56% m/m). More than 128k shares traded in the range of GBP 65.15 - 70.15/share. Average daily traded volume was 37k in the last 4 weeks. The volume of BGEO shares traded was at 0.29% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 44.75/share (- 0.78% w/w and -2.82% m/m). More than 296k shares changed hands in the range of GBP 44.10 - 45.65/share. Average daily traded volume was 55k in the last 4 weeks. The volume of TBCG shares traded was at 0.53% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 18.54/share (-3.24% w/w and -3.34% m/m). More than 230k shares traded in the range of GBP 18.36 - 19.38/share. Average daily traded volume was 40k in the last 4 weeks. The volume of CGEO shares traded was at 0.58% of its capitalization. 

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