The banking and finance team at BGI Legal assists large domestic banks, international financial institutions and investment funds with a range of high-value transactions including the issuance of bonds, the financing of large-scale infrastructure projects and regulatory capital deals. Founding partner Lasha Gogiberidze heads the team alongside Unana Gogokhia; both are highly experienced in project finance and capital markets. Sandro Bibilashvili is also recommended for his work with IFIs on various energy projects.
Banking and finance in Georgia
BGI Legal
Practice head(s):
Other key lawyers:
Key clients
Korea Water Resources Corporation
IFC
EBRD
ADB
FMO
DEG
BSTDB
China Development Bank
EFSE
Green for Growth Fund
Global Climate Partnership Fund, ResponsAbility Investments AG
BP Georgia
MND Group NV
Marriot International
Vialis Belgium NV
4finance
Ferrero International
Flutters Entertainment plc (formerly, Paddy Power Betfair plc)
IQ option
MoneyGram
Western Union
Mastercard
AC Maritime Lending
ACT Maritime LLC
Liberty Bank
Coinbase
TBC Bank
E-Toro
Alipay
Work highlights
- Advised on the issuance and placement of $500m 2.750% notes due 2026 on the London Stock Exchange by the state of Georgia.
- Advised Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE and J.P. Morgan SE on the issuance of up to U.S. $435m 8.5% notes.
- Acted as Georgian counsel in connection with the issuance and listing of $300m 8.375 % notes by JSC Silknet on Euronext Dublin.
BLC Law Office
Acting for clients including international and domestic financial institutions, multinational corporations and investment banks, the sizeable team at BLC Law Office assists with a range of matters including complex capital market transactions, loan and equity financings and the issuance of local and international bonds. A strong focus on the asset management sector has also seen the practice handle a large percentage of investment fund registrations with the National Bank of Georgia. Alexander Bolkvadze, Ketti Kvartskhava, Giorgi Batlidze, Tamta Ivanishvili and Rusa Tchkuaseli head the team with Ivanishvili described as ‘the best capital markets lawyer in Georgia’.
Practice head(s):
Alexander Bolkvadze; Ketti Kvartskhava; Giorgi Batlidze; Tamta Ivanishvili; Rusa Tchkuaseli
Testimonials
‘BLC is one of the very few law firms in Georgia specialising in capital markets and has helped to develop the sector in Georgia.’
‘Tamta Ivanishvili is, in my opinion, the best capital markets lawyer in Georgia.’
Key clients
Georgia Capital
International Finance Corporation
Asia Development Bank
DFC
Pace Terminals
Proparco
OFID
Gazelle Finance
Small Enterprise Assistance Fund
JP Morgan
FMO
TBC Capital
Small Enterprise Assistance Fund
Alpha Capital
Work highlights
- Advised TBC group on the formation of its asset management company and the first securitization fund in Georgia – Diversified Credit Portfolio JSC.
- Advised Georgian Renewable Power Operations JSC on the $80m issuance of the first green-secured bonds on the Georgian market.
- Acted as local counsel for the Asian Development Bank on financing of the Affordable Housing Project – building houses for thousands of citizens of Georgia.
Dentons
The team at Dentons has significant expertise of derivative and repurchase lending transactions, advising blue chip financial services companies on their use under Georgian law. The practice’s links with banking regulations allows it to handle complex transactions such as the recent $50m AT1 loan from the EBRD and Swedfund to the Bank of Georgia. The team is also well versed in capital market transactions and regularly advises on international and local bond issuances. Joint team heads Avto Svanidze and Otar Kipshidze offer expertise on a wide range of banking and finance matters. Clients include commercial banks, insurance companies and private equity funds.
Practice head(s):
Avto Svanidze; Otar Kipshidze
Other key lawyers:
Irakli Pipia; Sopho Mebonia; Neli Tsivtsivadze
Key clients
AFD
Deutsche Bank
DFC
EBRD
Goldman Sachs
ING Bank
ResponsAbility Investments
Silknet
Societe Generale
TBC Bank
Work highlights
- Advising Silknet on its debut Rule 144A/Reg S bond issuance of $300 mil.
- Advising EBRD and Swedfund on an Additional Tier 1 (AT1) capital loan ($50 mil) to the Bank of Georgia.
- Advising AFD on providing legal consulting on an uncommitted credit facility of €100 mil to the government of Georgia.
Gvinadze & Partners LLC
The varied offering at Gvinadze and Partners includes representing international firms in tax and banking matters, supporting clients in Georgian-bank related KYC and AML mandates and assisting IFIs the EBRD and the ABD in major loans and financings. The team also frequently acts as local counsel for international law firms. Nick Gvinadze leads the practice and is supported by Sophie Panjikidze .
Practice head(s):
Nick Gvinadze
Other key lawyers:
Sophie Panjikidze
Key clients
European Bank for Reconstruction and Development (EBRD)
Asian Development Bank (ADB)
Viber Media SARL
Score Capital AG
Klarna Bank AB
GenesisAI
G-Core Labs S.A.
EnerMech
Global Benefits Group
China Development Bank (CDB)
Dreymoor Fertilizers Overseas Pte. Ltd.
Commerzbank AG
Raiffeisen Bank
Paysend Group
GEOLEB
Reed Smith / The World Bank
BLB (Business Legal Bureau)
Acting primarily for international finance institutions on the lender’s side, BLB (Business Legal Bureau) has carved out a strong niche that has seen prestigious clients such as the European Bank for Reconstruction and Development (EBRD) and the International Development Finance Corporation (DFC) repeatedly entrust the practice with mandates. The practice is led by experienced lawyer Kakha Sharabidze who is supported by Ana Rekhviashvili.
Practice head(s):
Kakha Sharabidze
Other key lawyers:
Ana Rekhviashvili
Key clients
Overseas Private Investment Corporation (OPIC) now transformed as International Development Finance Corporation (DFC)
European Bank for Reconstruction and Development
World Bank – Angel Investors Project
Work highlights
- Advised EBRD on the issuance of its €6m loan to TBC Leasing, to broaden access to finance for Georgian micro, small and medium-sized enterprises.
- Represented and advised EBRD regarding the €10m financing of the state-owned air navigation entity of Georgia – SakaeroNavigatsia.
- Advised OPIC, (now U.S. International Development Finance Corporation) on its transition process requiring the transfer of loans/collateral for pending projects since 1996.
Nodia, Urumashvili & Partners
The ‘highly qualified’ team at Nodia, Urumashvili & Partners advises banks and microfinance organisations on issues such as obtaining banking licenses, establishing subsidiaries or investment funds and tax due diligence. Founding partner Lasha Nodia, who is experienced in a wide range of banking and finance transactions, leads the team alongside fellow founding partner and tax expert Eprem Urumashvili.
Practice head(s):
Lasha Nodia; Eprem Urumashvili
Testimonials
‘Highly qualified team.’
Key clients
JSC Ziraat Bank Turkey
JSC Tera Bank
JSC Bank of Georgia
JSC Procredit Bank
JSC Bank of Georgia
JSC basis Bank
responsAbility Investments AG
JSC Pasha Bank
JSC Crystal
Work highlights
- Advising responsAbility Investments AG on various matters in relation to execution and enforcement of several promissory notes.
- Representing a major creditor in relation to acquisition of the loan and participation at insolvency proceedings and related disputes.
EY LLC
The ‘innovative thinking’ at EY LLC allows the team to assist with matters such as the drafting and negotiation of multi-jurisdictional banking technology contracts, the establishment of business entities designed for the acquisition of shares in commercial banks, and the establishment of complex investment funds. Practice head Tato Chantladze has substantial experience in the banking sector, having worked as general counsel for two major Georgian banks.
Practice head(s):
Other key lawyers:
Mako Maisuradze
Testimonials
‘I would underline the remarkable competence and leadership of the team members. Their innovative thinking and tight collaboration are key to their success.’
‘I would highlight their devotion and reliability, irrespective of vacations, public holidays or days off. They put the customer’s needs first.’