Core Viewpoint - Kaspi.kz has successfully priced an offering of $650 million in 6.250% Notes due 2030, marking a significant milestone as the largest investment-grade bond issuance by a non-sovereign entity from Kazakhstan [2][4]. Company Overview - Kaspi.kz operates a unique two-sided Super App model, providing services for both consumers and merchants, aimed at improving everyday life through innovative mobile products [5][6]. - The company has a strong focus on Payments, Marketplace, and Fintech Platforms, designed to meet the everyday needs of users [6][7]. Financial Details - The Notes will be senior unsecured obligations, with interest paid semi-annually at a rate of 6.250% per annum starting from September 26, 2025 [3][4]. - The net proceeds from the Notes will be utilized for general corporate purposes [4]. Market Position - The successful issuance reflects the strength of Kaspi.kz's diverse business model and its strong investment-grade rating, which has attracted interest from leading debt capital market investors [4][7]. - In January 2025, Kaspi.kz acquired a 65.41% stake in Hepsiburada, a prominent e-commerce company in Türkiye, further enhancing its market presence [7]. Recognition - Harvard Business School has featured Kaspi.kz in two case studies, indicating its significance as a business model in the educational context [8].
Joint Stock Company Kaspi.kz issues USD denominated Eurobond