EBRD to invest in Capital Notes issued by TBC Bank in Georgia

• The EBRD invests US$ 60 million in AT1 capital notes issued by TBC Bank Georgia
• TBC returns to the international capital markets with a benchmark US$ 300 million issuance
• The notes will be eligible as additional tier 1 capital instruments once approved by the National Bank of Georgia

The European Bank for Reconstruction and Development (EBRD) has invested US$ 60 million in capital notes issued by TBC Bank Georgia (TBC), participating in its public placement of a US$ 300 million, Basel III-compliant issuance of Additional Tier 1 (AT1) capital notes, to be listed on Euronext Dublin (Global Exchange Market). This is TBC's first benchmark issuance since the inaugural placement in 2019.

The investment will help strengthen TBC Bank's resilience, optimise the bank's capital base and diversify its currency composition. It will also support the preservation of prudent capital buffers, insulating the capital base against currency fluctuations and enabling a continued flow of credit to the real economy.

TBC Bank Georgia, a long-standing partner of the EBRD, is one of the largest financial institutions in the country, with a leading retail and corporate-banking franchise. The bank is owned by the UK-incorporated public holding company TBC Bank Group, which is listed on the London Stock Exchange.

To date, the EBRD has invested more than €5 billion in 293 projects in the financial, corporate, infrastructure and energy sectors in Georgia, with 82 per cent of those investments in the private sector.