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Microfinance company OnlineKazFinance LLP (part of the IDF Eurasia group) successfully placed its 2 year debut bonds on KASE (Stock Exchange in Kazakhstan). The placement was made with a coupon of 19% per annum in KZT (Kazakh tenge). The nominal value of the bonds is KZT 1000 (€ 1.99), coupon payments are made 4 times a year, and the maximum volume of issue is KZT 4 billion (€ 7.878 million).
During the first day of placement, bonds amounting to almost KZT 2 billion (€ 3.944 million) were placed primarily among retail investors.
Boris Batine, co-founder of IDF Eurasia, commented:
“The placement of NBFI bonds on KASE is the first-ever in Kazakhstan, as previously the companies from the sector could not issue bonds. Thanks to the right product-market-fit and strong team, we had a good performance in the first half of 2020, especially in the second quarter of the COVID-19 crisis peak. We finished the work on fixing the reconciliation issue between IDF Eurasia and Mintos systems that slightly distorted some of the pending payments data earlier in spring, and we are very confident to tell investors that our business is successfully operating and developing even in times of crisis. Getting access to new funding sources is a key element in our strategy. We plan to continue working in the debt capital markets in the future.”
About IDF Eurasia
MFO OnlineKazFinance LLP is part of IDF Eurasia group, the largest online lending service in Russia and Kazakhstan, operating in these countries under the Moneyman and Solva brands. The company combines the use of advanced developments in decision-making with the principles of responsible lending.