Astana International Exchange (“AIX”, “Exchange”) is pleased to announce that “Megastroy Ltd” LLP (“Megastroy”), a subsidiary of one of the largest developers in Kazakhstan, BI Group, placed the first Tranche under the 20 bn KZT Bond Programme in the amount of KZT6.3 bn. The Bond is due in 2022 and bears a 15.5% p.a. coupon. Jusan Invest JSC acted as a sole lead manager of the placement.
This is the second placement of the 12-month bonds by Megastroy on AIX following their debut offering in March 2021. Both offerings were oversubscribed indicating high interest among retail and institutional investors.
Renat Bekturov, CEO of AIX, said:
“Another successful placement of bonds by a company from the Kazakhstani construction sector proves the case for raising capital by issuers from the real sector of the economy on the exchange. Such examples demonstrate that the terms, efficiency and conditions of financing on the organized market are attractive for business and open new opportunities for development for them."
Almas Lepesbayev, Vice-Chairman on Finances, BI Group holding, said:
"Our first ever placement in March 2021 turned out to be the largest market transaction in the housing construction in Kazakhstan and it has received a positive response from the market and the target investor base. This time we have made a decision to register a medium term note program for the amount of KZT 20 bn with AIX to address the overall short to medium terms BI Group’s financial goals and strategy. We believe that both transactions can be treated as a huge success and another step in our path towards the international markets."
Maxim Kabanov, Deputy Chairman of the Board, Jusan Invest, commented:
"We are glad to advise that in only three months since the debut placement of the issuer we were able to return to the market and surpass the previous success. This transaction is unique since it showed a confidence in the company of retail investors being the most demanding investor base. It was our honor to support the issuer and our client base throughout this transaction.”
Zhanna Tulekova, Head of Corporate Finance, Jusan Invest, noted:
"We are grateful to the Exchange team for the well-coordinated work in the implementation of this transaction and would like to note a significant increase in interest in AIX from potential issuers as well as investors.”