Sidley Represented Joint Lead Managers on JSC Bank of Georgia’s GEL 450 Million Note Offering

Sidley represented the Joint Lead Managers (Citigroup and J.P. Morgan, BCP, Oppenheimer, and Société Générale) on Bank of Georgia’s GEL 450 million offering of 11.50% senior unsecured notes due 17 November 2028. The Reg S/Rule 144A notes are denominated in GEL and have been issued on 17 November 2025 with a listing on Euronext Dublin.

Sidley advised the Joint Lead Managers on English law and U.S. law aspects of the offering. This deal represents the largest private-sector local-currency Eurobond across the Caucasus, Turkey, and Central Asia in 2025.

Sidley’s cross-border team was led by partners Vladimir Mikhailovsky and David Stewart, with support from counsel Omar Shafi, managing associates Tamara Fayad and Emenike Omeye, and trainee Chidi Onyeagucha. David Howe advised the trustee on the issuance.