Admission of MFO Crystal bonds on GSE

On 17th of May, 2018, bonds issued by JSC MFO Crystal (I/N 212896570) was admitted on Georgian Stock Exchange.

Bonds worth of GEL 10 million, maturity of 2 years was admitted to the category B listing of the Georgian Stock Exchange under the ticker #CRS01J

Senior unsecured Notes – issued and sold on 28th of December, maturing in December 2019, is the first local currency bond offering in the microfinance sector in the country. This issuance represents a landmark transaction for Georgia and was very well received by local and foreign investors. This transaction enables Crystal to establish an alternative source of GEL funding.

MFO Crystal is fast growing, dynamic and a leading Georgian Non-Bank Microfinance Institution supporting micro and small business sectors and working towards sustainable economic development. The company supports entrepreneurs, smallholder farmers and women in realizing their business potential, reaching financial stability and elevating living standards.

The company manages more than USD$100 million in total assets (including portfolio of GEL 240m, with PAR>30  1.22%), has 950+ employees, 60 regional branches and serves more than 72,000 clients across Georgia.

Solid asset quality, sound performance, profitability and capitalization metrics were well recognized by credit rating company “Fitch”, resulting in assigning JSC MFO Crystal Ratings of ‘B’ – with a Stable Outlook in September 2017. This was the first precendent of conferring Microfinance company by “Fitch” rating.

As for Georgian Stock Exchange (GSE), this is the only functioning organized securities market in Georgia offering trading and efficient investment facility to both local and foreign investors.

Automated trading system of GSE can accommodate thousands of securities that may be traded by brokers from the workstations at the GSE floor or remotely from their offices. As of May 1, 2018, 74 companies are admitted on GSE, with Total Market Capitalization of USD 1.179 billion and Daily Turnover in April, 2018 was GEL 13 857.