The development company  m² Real Estate has successfully placed 3-year bonds worth 25 million USD. The bonds are denominated in US dollars and offer investors an annual interest rate of 7.5%, which is 17% lower than the interest rate on bonds issued on March 20, 2015. The placement of m² bonds was carried out by the company Galt & Taggart.

It is noteworthy that the fourth issue of bonds turned out to be successful for m2—demand for these bonds exceeded supply by almost two times, which led to the placement of bonds at an unprecedentedly low interest rate.

We are pleased to announce the fourth, largest, and historically most successful issuance of m² bonds. As with the previous three issues, the current placement of m² bonds also demonstrated excess demand, which once again attests to the high level of customer confidence in m² and, on the other hand, underscores the professionalism of Galt & Taggart. The bond market allows for diversification of financing sources, and m² will continue to use this financial instrument in the future. The very fact that three-year bonds with an annual interest rate of 7.5% have been issued creates a positive trend in the Georgian bond market and will facilitate access to financing for the business sector," said Irakli Burdiladze, CEO of the development company  “m² Real Estate”.

“I am pleased to acknowledge Galt & Taggart’s role in the successful issuance of the m2 bonds. This is the largest public offering of a fixed-income financial instrument by a Georgian company in Georgia. The bond issue attracted considerable interest from clients, resulting in high demand. I would like to congratulate the entire Galt & Taggart team, whose experience and professionalism have made it a leading provider of investment banking services in the country. Today, Galt & Taggart is sought after by private and public companies, as well as international financial institutions," said Archil Gachechiladze, Chairman of the Supervisory Board of Galt & Taggart.