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SilkNet raises USD300m in eurobond issue

3 Feb 2022

Georgian telecoms operator SilkNet has announced the successful issue of USD300 million worth of five-year bonds. The funds raised from the bonds will be used to refinance existing liabilities and finance the further development of the company. The bond emission book runners were JP Morgan and UBS, and the process was co-managed by TBC Capital.

Commenting on the development, David Mamulaishvili, General Director of SilkNet, said: ‘I am glad that SilkNet has successfully issued new bonds and the company has attracted additional financial resources. After the first emission of eurobonds in 2019, SilkNet made significant investments in network modernisation and has been the only one in Georgia to introduce a gigabit LTE mobile network. We have also successfully completed a two-year IT transformation process. The new financial resource will help us to continue the development of the company and to introduce even more leading-edge services to our customers.’

Georgia, SilkNet

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