TBC Bank, Georgia’s largest bank by assets, loans and deposits, has set the size for its debut dollar bond at $300m and order books for the deal are already well over that amount.
The five year bond is being arranged by JP Morgan, Renaissance Capital and UBS. TBC Capital is a lead manager.
The latest book update, given at around midday in London, was at $500m. Price guidance for the note stands at 6%-6.125%.
TBC Bank is rated Ba2/—/BB-.