Georgian mobile operator Cellfie Mobile, which serves more than 1.3 million subscribers, has successfully placed its first bonds and raised GEL 65 million. The raised amount will allow Cellfie to invest even more resources in network development and expansion, including the launching  of 5G network. It is worth noting that the demand for the bonds exceeded the supply by 25%. This was facilitated both by Cellfie's profitability and promising market position, and by the company receiving a BB-/Stable rating from the leading European rating agency Scope Ratings in October 2023. This rating is the highest ever received by a Georgian telecommunications company. Cellfie’s  bonds have been purchased by leading commercial banks in Georgia and the Pension Agency of Georgia.

“Cellfie Mobile successfully completed one of the most important transactions in its history, in the form of placement of bonds in the amount of GEL 65 million. The funds raised from the bond issue will be used to further improve Cellfie's existing network, as well as to expand the 5G network, which means high speed internet and high-quality services for our customers. Through this transaction, Cellfie will continue to fulfill its promise to customers, which is to continuously evolve the company to provide our subscribers with a variety of products, the best service and most importantly, a reliable high-capacity network. As we have repeatedly mentioned, Cellfie occupies a special place in the CBS Group. This company is associated with the introduction of innovations and future technologies in the country, which contribute to the well-being of our customers,” says Tamar Gaharia, CFO of CBS Group.

“The raised financial resource of GEL 65 million is important in terms of improving Cellfie’s financing structure and interest rate. The obtained financing and the resulting freed up cash will be used to improve and expand Cellfie's network, the company will also continue to actively implement 5G technology and related products. It is worth noting the high demand for Cellfie  bonds, which is due to the receipt of the highest credit rating in the telecommunications sector, stable market position and significant prospects for further development. It should be emphasized that the securities have been purchased by leading commercial banks of Georgia and the Pension Agency of Georgia,” says  Irakli Chedia, CFO  of Cellfie Mobile.

The bonds are denominated in GEL, term - 3 years, annual interest rate - 6-month TIBR + 3.5%. The company's immovable and movable property serves as collateral. Galt & Taggart and TBC Capital acted as placement agents.

For more information about Cellfie, please visit web-site.