Trade and Forfaiting Review (TFR), a leading trade and supply chain finance information resource, named one of TBC Bank's transactions among top 15 deals in the world. Other winners of the magazine's annual Deals of the Year Awards program included transactions by HSBC, RBS, Deutsche Bank, IFC, Citi, ING, Société Générale, ABN AMRO, and BNP Paribas. 

TBC Bank's winning transaction is a Letter of Credit issued for the import of the artificial snowmaking equipment. The equipment enabled the Georgian Mountain Resorts Development Company to offer successful ski seasons at the popular Georgian destinations of Gudauri and Bakuriani, regardless of natural snow cover. When choosing winning deals, the judges considered the structure, external environment, strategy and context of eligible transactions. The top 15 deals were selected out of 180 applications and 145 core transactions worldwide. Additional information on TBC Bank's winning transaction is available from the publication's website.
"This deal was a shining example of how a letter of credit, a crucial trade finance instrument, could transform a local economy, bringing much-needed forward bookings to the Gudauri Ski Resort. It was so good to see the EBRD and Raiffeisen Bank's support in such a transforming project. When we saw this entry, the judges and I knew that this was something special - and it made us want to come skiing in Georgia!" commented Clarissa Dann, the Editor of Trade & Forfaiting Review.
"We are very proud of this exceptional achievement in trade finance and corporate banking. Our transaction was recognized as one of the best among deals completed by the world's leading financial institutions, which is a testament to the outstanding expertise and commitment to excellent customer service of our Trade Finance team," commented Vakhtang Butskhrikidze, Chief Executive officer.
About the TFR Deals of the Year Awards
Trade & Forfaiting Review is a leading trade and supply chain finance magazine, it was first published in 1992 and its Deal of the Year Awards is one of the most anticipated awards programs in the industry. Winning deals are recognized at TFR's Cross-border trade forum 2015 on March 18 in London.website.
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