The announcement text below was provided to AS Mintos Marketplace (Mintos) by Kviku, a cooperation partner of Mintos that offers investment opportunities on mintos.com.
On 23 November 2021, Kviku successfully placed its 3.5 year debut bonds on MOEX (Moscow Stock Exchange). The placement was made with a coupon of 13.25% per annum in RUB.
The bonds were offered primarily among retail investors and have been trading at par during first weeks after issuance. The issuer was assigned “BB” credit rating from the national rating agency Expert RA with stable outlook.
“The placement of Kviku bonds on MOEX comes as the first-ever issue among “Buy-now-pay-later” lending companies in Russia. The proceeds from the issue will be used to fuel growth of our portfolio, which more than doubled in 2021 and is currently amounting over € 60 million (after provisions). We continue to strive to become a leading online lending institution in our core market in Russia, while also increasing our footprint in other countries of operation (Philippines, Kazakhstan, Poland, Ukraine, Spain, India).”
About Kviku
Kviku was among the first lending companies from Russia to join Mintos in 2018. The company forms a group of online lending companies with operations in Russia, Kazakhstan, Ukraine, Spain, Poland and the Philippines. Since 2013, Kviku has been issuing loans through its virtual credit card and point-of-sale partners and remains the leading POS microlender in Russia. Kviku’s credit scoring is done fully online in under 60 seconds, using a proprietary risk scoring model that is based on over 10 000 parameters and includes data from credit bureaus, mobile operators, social networks, banks,and more.
