Silk Road Group (SRG) has recently announced its plan to issue $40 million worth of 3-year obligations to finance upcoming projects in Georgia. The nominal value of the obligations will be $1,000.
The first tranche of $20 million will be distributed in April with a fixed interest rate of 8-9%, and the second tranche will be issued at a later date, which is yet to be confirmed.
As a multi-profile holding company, SRG has various subsidiaries operating in the energy, banking, transportation, hospitality, real estate, and telecommunications sectors in Georgia. One of its subsidiaries, Silk Development, manages the group's real estate projects, while Silk Hospitality manages the group's hotels, restaurants, and clubs.
This latest move by SRG to issue obligations reflects the group's commitment to continued growth and development in Georgia's economy. With a strong track record of successful projects, SRG is poised to make a significant impact on the country's urban landscape.
In summary, Silk Road Group's plan to issue $40 million in obligations demonstrates its dedication to expanding its reach and furthering its presence in Georgia. As a prominent player in the country's economy, SRG's continued success will undoubtedly have a positive impact on the region.
