• NAME OF RESEARCH

    Georgian Oil and Gas Corporation - Getting more Georgia

  • NAME OF AUTHOR

    Bank of Georgia Research

  • CATEGORY

    Energy

  • YEAR

    2012-08-07

  • Download PDF

State-owned GOGC placed a debut 5-year US$ 250mn Eurobond at 7.125% YTM in May 2012. Active interest from investors points to their conviction in both the Georgian macroeconomic story and the company’s prospects. Staunch government support and a solid cash flow generating profile leave us comfortable with GOGC’s ability to respect Eurobond covenants and service the debt.

The paper includes the following sub paragraphs: 

  • Company Overview;
  • Overview of Business Lines;
  • Financial and Credit Analysis.