The Kazakh developer announced the repayment of the
principal debt on the latest bond issue. The coupon interest rate was 15% per
annum. The company closed all obligations to investors on time, paying
remuneration in the amount of 3.9 billion tenge.
It should be noted that within the framework of the
bond program on the AIFC exchange, “Megastroy Ltd” LLP, which is part of the
structure of the construction holding, has issued securities on Astana
International Exchange three times. For the first time - in March 2021 for a
total amount of 6.1 billion tenge with a coupon remuneration of 18% per annum.
The second placement in July for 6.6 billion tenge at a rate of 15.5% and the
third tranche of bonds in November. All securities were issued for 12 months
and were repaid on time. Thus, the company closed obligations on bonds in the
amount of about 17 billion tenge. The funds raised were used to further scale
the business.
"All our issues were accompanied by high demand
from retail investors. I can say with confidence that we fully justified their
trust by closing our obligations in full. In terms of business, the company has
achieved good results: it has strengthened its position in the construction
market, increased turnover and expanded its portfolio of projects. We thank all
investors who believed in us, and we do not rule out re-entering the stock
exchange in the future," said Ruslan Embergenov, Director of Finance and
Economics at BI Development.
“Megastroy Ltd” is the first organization in the
Kazakh construction industry to use public financial market instruments. The
guarantor is the BI Group holding, audited by the “Big Four” company - KPMG.