Latham Advises on Georgia Global Utilities’ US$300 Million Guaranteed Notes Offering

Latham & Watkins has advised on Georgia Global Utilities’ (GGU) offering of US$300 million 8.875% guaranteed notes due 2029. The notes were guaranteed by Georgian Water and Power LLC and issued pursuant to Regulation S and Rule 144A, and listed on Euronext Dublin. J.P. Morgan acted as sole bookrunner and lead manager and Galt & Taggart and TBC Capital acted as co-managers. J.P. Morgan also acted as the green structuring agent and development finance structuring agent.

An amount equal to the net proceeds of the offering will be allocated to Eligible Projects as per GGU’s Green Finance Framework.

In 2024, Latham has advised on all international capital market transactions by Georgian issuers.

The Latham team was led by London corporate partners David Stewart and Vladimir Mikhailovsky, with associate Carolina Gori.