The First State Georgian Eurobonds – History and trends

Authors

  • David Aslanishvili Doctor of Economy, Ph.D, Affiliated Professor, Webster University, https://orcid.org/0000-0002-3920-6781

Keywords:

Georgian Eurobonds, sovereign debt, external debt, bond yield, credit spread, refinancing, EMBI index, London Stock Exchange

Abstract

The paper reviews Georgia's first two sovereign Eurobond issues, USD 500 million at 7.5% in 2008 and USD 500 million at 6.875% in 2011. The second issue refinanced most of the first and extended its maturity. It looks at the investor base, ratings, price dynamics and spreads over U.S. Treasuries. The narrowing spread shows growing investor trust, but the funds went to budget spending instead of energy projects, which raises doubts about the borrowing.

Published

2026-11-09

How to Cite

David Aslanishvili. (2026). The First State Georgian Eurobonds – History and trends. Modern Scientific Technology, (15). Retrieved from https://ojs.publisher.agency/index.php/MSC/article/view/9535

Issue

No. 15 (2026): Modern Scientific Technology

Section

Economic sciences

License

Creative Commons License

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