Financing ·
Freedom Holding Corp. agrees to issue up to $1.16B of 7.8% bonds to Kokzhiyek Fund LP
FRHCFreedom Holding Corp.
Freedom Holding Corp. and its subsidiary FRHC-IF.SPC Ltd. entered into an investment agreement with Kokzhiyek Fund LP to issue U.S. dollar-denominated bonds in an aggregate principal amount of up to $1,160,000,000. The bonds mature five years from issuance, bear interest at 7.8% per annum payable semi-annually, and will be listed on the Astana International Exchange. Proceeds are restricted to financing seven specific projects, including data centers and telecommunications infrastructure, with disbursements occurring through December 30, 2028. The transaction is guaranteed by Freedom Holding Corp., its subsidiary Freedom Kazakhstan Ltd., and CEO Timur Turlov. If coupon payments default for 90 days, the Fund may require the issuance of common stock. Freedom Holding Corp. operates in the financial services sector, providing banking, investment, and insurance solutions across Central Asia.