On September 23, 2021, KMF Microfinance Institution carried out an additional placement of its bonds (MFKMb1, ISIN KZ2P00007883) in the amount of 2.679bn tenge with a yield of 13% per annum. The placement was underwritten by Halyk Finance, a subsidiary of the Halyk Bank of Kazakhstan. Earlier, on September 8, following the results of the initial placement of its bonds, KMF raised 7.320bn tenge.
As a result of two issues in September 2021, KMF attracted 10bn tenge on the Kazakhstan Stock Exchange (KASE). During the book-building process, the total market demand fully satisfied the interest in the offer from institutional investors, such as insurance companies, mutual funds and limited liability partnerships.
– The results of the placement of our debt obligations in the amount of 10bn tenge on the stock exchange have fit in our initial arrangements. This fact demonstrates to all traders the great potential of our company, the advantages of the MFI’s business model focused on long-term partnerships with entrepreneurs – the key category of our clients. Our company plans to continue dynamically attracting investments from domestic investors, thereby increasing confidence in our company and strengthening the image of the entire microfinance sector, - commented Olga Yugay, CFO of KMF.
– Halyk Finance, having advanced experience in organizing fundraising deals in the debt capital market, readily participated in the placement conducted by a quality corporate sector issuer. The results of this placement testify to the continuing growth of interest of Kazakhstan investors in debt instruments outside the quasi-public sector, - said Farkhad Okhonov, CEO of Halyk Finance.
