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.
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