Kaspi.kz's Landmark Eurobond Offering
Joint Stock Company Kaspi.kz, famously known as Kaspi, has made an impressive stride in the financial market with its recent offering of USD denominated Eurobonds. This momentous decision to issue $650 million in aggregate principal amount of its 6.250% Eurobonds due in 2030 highlights its growing prominence and robust financial health in the investment landscape.
Details of the Eurobond Issue
Successful Pricing and Key Highlights
On March 18, 2025, Kaspi.kz successfully priced its Eurobond offering at an appealing interest rate of 6.250%. The settlement of the offering is anticipated to occur shortly, following customary closing conditions, further solidifying the company’s presence in capital markets.
Significance of the Offering
This transaction not only crowns Kaspi.kz as a leader in investment-grade bond issuance but also represents the largest bond issuance by a non-sovereign entity from Kazakhstan. Such milestones indicate the company’s strength and effectiveness in executing its business strategies.
Our Vision and Future Plans
Mikhail Lomtadze, CEO and co-founder of Kaspi.kz, expressed enthusiasm around this major milestone. He stated that the culmination of their Eurobond issuance reinforces not just their innovative business model but also the strong investment-grade rating that they have fought to achieve. The net proceeds from this issuance will be directed toward general corporate purposes, which includes bolstering their dynamic services in Kazakhstan and Türkiye.
Innovative Business Model
Kaspi.kz operates a unique application ecosystem—a Super App—that allows consumers and merchants to engage with various services, from payment solutions to e-commerce. This seamless connectivity between users enhances the user experience and drives engagement, further fueling the company's growth trajectory.
Recent Acquisitions and Strategic Growth
In January, Kaspi.kz took a significant step by acquiring a 65.41% stake in Hepsiburada, a premier e-commerce entity in Türkiye. This acquisition aligns with their strategic vision to enhance user experience and expand market reach, ensuring sustained growth and innovation.
Educational Contributions and Industry Recognition
Kaspi.kz is not just shaping market trends but is also recognized in academic circles, particularly by Harvard Business School, which has developed two case studies around the company's incredible journey and innovative practices. This recognition reflects the company's pioneering role in the fintech landscape.
Contact Information and Next Steps
For inquiries and more detailed information regarding the Eurobond issuance or Kaspi.kz’s operations, interested parties can reach out to David Ferguson at david.ferguson@kaspi.kz or call +44 7427 751 275.
Frequently Asked Questions
What is the amount raised by Kaspi.kz through the Eurobond?
Kaspi.kz successfully raised $650 million through its Eurobond issuance, marking a significant achievement in its financing strategy.
What is the interest rate on the newly issued Eurobond?
The Eurobond carries an interest rate of 6.250%, payable semi-annually.
How will Kaspi.kz utilize the funds from the Eurobond?
The funds raised will be used for general corporate purposes, enhancing their current operations and innovation efforts.
What is the significance of this issuance for Kaspi.kz?
This issuance positions Kaspi.kz as a leader in securities offerings within Kazakhstan, being the largest investment-grade bond issuance by a non-sovereign entity in the country.
How can investors learn more about Kaspi.kz?
Investors can reach out to the contact provided for further details on investment opportunities and the company's strategic direction.
