IDF Eurasia group successfully placed its bonds in Kazakhstan
MFO OnlineKazFinance LLP (IDF Eurasia group) successfully placed its bonds on KASE.
MFO OnlineKazFinance LLP (Solva and MoneyMan), a member of the international IDF Eurasia group, performed debut floatation of bonds successfully. Its tenor is 2 years and a coupon is of 19% per annum. The nominal value of the bonds is KZT 1,000, coupon payments are made 4 times a year, and the maximum volume of issue is KZT 4 billion.
Freedom Finance JSC was the main organizer of the floatation of bonds.
During the first day of trading, securities amounting almost KZT 2 billion were placed.
“Floatation of MFI bonds on KASE is the first ever in Kazakhstan, as previously the companies in this sector could not issue bonds. Thanks to popular loan products and a strong team, we had good performance in the first half of 2020, especially in the second quarter in the covid crisis peak. And now we can confidently 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,” commented Boris Batin, co-founder of 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. Being the flagship of finance and technology transformations in Eurasia, the company combines the use of advanced developments in decision-making with the principles of responsible lending.