(Civil.Ge) — Georgia will issue Eurobond to refinance a previous USD 500 million Eurobond due to be repaid in 2013, PM Nika Gilauri told lawmaker on March 22.
Finance Minister Kakha Baindurashvili told MPs on the same day that Georgia planned new Eurobond with maturity from seven to ten years.
Georgia issued five-year USD 500 million debut Eurobond in April, 2008.
According to official data share of Eurobonds in Georgia’s total external debt is over 12%.
Georgia’s total external debt as of February was about GEL 7.06 billion, which is about USD 4.02 billion, making up to 34% of country’s nominal GDP, which was GEL 20.79 billion in 2010, according to the official figures.
Georgia faces most of the external debt service obligations in 2012-2014.