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The Green for Growth Fund (GGF) has provided a senior loan of $1.5 million to new partner JSC MFO Crystal (Crystal) to expand green energy lending in Georgia. The largest microfinance organization in the country, Crystal primarily serves microentrepreneurs and farmers, with a strong focus on rural clients. The institution is also unique among microlenders...
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On June 14th, Crystal and Crystal Fund  arranged a reception at the House of Commons in London. The main theme of the event was UK-Georgia technology, trade and investment cooperation. The reception was hosted by Mr. Fabian Hamilton MP, a Shadow Minister for Peace and Disarmament and supported by Georgia Embassy in the United Kingdom....
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London-07 June 2018: Fitch Ratings has affirmed JSC MFO Crystal’s (Crystal) Long-Term Issuer Default Ratings (IDRs) at ‘B’ with a Stable Outlook. The affirmation of Crystal’s Long- and Short-Term IDRs reflects the stability of the company’s business model, risk appetite and financial performance. The ratings also reflect Crystal’s focus on microfinance lending in the relatively...
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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,...
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Crystal is pleased to announce several senior appointments, marking a new phase in the company’s development and strengthening its leadership team. To serve the growing demand from micro and small entrepreneurs, Crystal shall continue its development as a financial group, adding new business lines to its successful record in microfinance. The Company’s first CEO Malkhaz...
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Fitch Ratings-London-17 January 2018: Fitch Ratings has assigned JSC MFO Crystal’s (Crystal) GEL10 million issue of senior unsecured notes a final long-term rating of ‘B’. The bonds mature in December 2019, and the coupon is paid quarterly at a rate of 450 basis points over the National Bank of Georgia’s monetary policy rate. Crystal has...
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December 28, 2017, Tbilisi – JSC MFO Crystal, rated B by Fitch Ratings, successfully completed an inaugural GEL 10 million offering of notes due December 2019 (the Notes). The annual coupon rate was set at 4.5% over the National Bank of Georgia’s refinancing rate. Senior unsecured Notes were issued and sold at an issue price...
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21 September 2017 In the press-release, published by ‘Reuters’ news agency, Fitch Rating said: “The ratings reflect the business focus of Crystal on microfinance (MFO) lending in a high-risk operating environment in Georgia, its rapid recent growth, and market and refinancing risks resulting from the predominance of foreign-currency wholesale funding. At the same time, the...
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JSC MFO Crystal and FMO (Netherlands Development Finance Company) signed the USD synthetic local currency (GEL) term facility in an aggregate amount of USD 10,000,000. The facility will be used to support micro and small enterprises through innovative financial products and green financing in the regions of Georgia with special emphasis on tourism, agriculture and...
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JSC MFO Crystal was the First MFI in Georgia obtaining international Credit Rating, First MFI in Georgia obtaining international commercial lending, First MFI in Georgia obtaining international Social Rating, Smart Campaign’s winner in ‘’Plain Language, Contract for clients’’; We had the First institutional American Investor and Shareholder – Developing World Markets (DWM); We have the...
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