/KASE, November 20, 2023/ – Freedom Finance JSC (Almaty), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated November 20, 2023:
quote
Freedom Finance JSC placed three-year "green" bonds of Black Biotechnology
LLP (BBT) in the amount of 1.5 billion tenge on Kazakhstan Stock Exchange JSC
(KASE) with a yield to maturity of 21.5% per annum. These securities are
classified as ESG bonds due to their compliance with the International Capital
Markets Association's (ICMA) Green Bond Principles, as independently rated as
High/Excellent by Green Investment Group.
The issue volume is 2 billion tenge. The coupon interest on BBT bonds will be
paid twice a year at a rate of 21.5% per annum, which is fixed for the entire
three-year circulation period. The bonds are included in KASE official list
under the trading code BKBTb1.
The coupon rate will be predominantly subsidized by "Damu" Entrepreneurship
development fund JSC in the amount of 15.5% per annum, the remaining 6.0%
per annum will be serviced by the issuer itself. In addition, the fulfillment of
obligations under the bonds is guaranteed by "Almaty" Social Entrepreneurial
Corporation JSC", which assumes an irrevocable joint and several obligation with
BBT to pay the principal debt in the amount of up to 1.5 billion tenge (75% of
the issue volume). In addition to the bonds specified in the prospectus,
covenants are provided that provide additional protection for the interests of
investors, in case of violation of which the holders have the right to demand
early redemption of bonds. Monitoring compliance with covenants is carried out
by a representative of bondholders, who is one of the professional participants
of Kazakhstan's securities market.
unquote
The complete press release is available at –
https://kase.kz/files/emitters/FFIN/ffin_relizs_201123.pdf
[2023-11-20]