Silknet raises $200 million in Eurobond issue
Thursday, March 28
The Notes were subscribed by investors from a wide range of geographies. The Notes are expected to be rated B1 by Moody’s and B+ by Fitch, in line with Silknet’s long-term issuer credit rating.
The Notes are expected to be listed on the Global Exchange Market of Euronext Dublin. J.P. Morgan, UBS, and TBC Capital are acting as the joint lead managers. Dentons UK and the Middle East and Dentons Georgia are acting as the legal advisors to Silknet, while Latham & Watkins and BGI Legal are acting as the legal advisors to the joint lead managers.
“Today’s placement reflects the strength and the potential of Silknet, one of the only companies with a truly comprehensive communication and entertainment offer for consumers and businesses. Developing Georgia’s infrastructure through Silknet is an important part of Silk Road Group’s mission to establish Georgia as the bridge between East and West.” – said George Ramishvili, the Chairman of Silknet’s Supervisory Board and Founder of Silk Road Group, Silknet’s parent company.
“Investors taking advantage of this issuance will benefit from unrivaled exposure to Georgia, the former CIS’s most promising success story for its entrepreneurial business environment. Indeed, Georgia is ranked 6th in the World Bank’s most recent ‘Ease of Doing Business’ index. Silknet is one of Georgia's leading telecoms companies with a comprehensive offering and a truly national customer footprint” – stated David Mamulaishvili, Chief Executive Officer of Silknet.
Silknet benefits from brand recognition, customer loyalty, and leverage as an integrated telecommunications provider. The company combines infrastructure, including mobile and fixed networks, and services including entertainment and broadcasting platforms, as well as exclusive content rights.
Silknet is the country’s largest fixed network provider, successfully expanding into mobile carrier service operations including 4.5G, offering businesses and households the full range of telecommunication services, such as fixed telephony, fixed broadband based on fiber technology, IPTV and mobile.
Silknet is rated B1/Stable by Moody’s and B+/Stable by Fitch Ratings.
Silknet has a broad subscriber base in Georgia:
- c. 1.77 million mobile customers
- c. 297,000 fixed line customers
- c. 278,000 fixed broadband customers
- c.228,000 pay TV customers
(Figures correct 31/12/2018)
Silknet is part of Silk Road Group, one of the leading investment groups of Caucasus.