Freedom Holding secures up to $1.16 billion in bond financing from Kokzhiyek Fund
FRHC•Freedom Holding signed an agreement for up to $1.16 billion in five-year bonds issued by its wholly owned subsidiary, with a 7.8% annual coupon. Proceeds will finance seven investment projects.
1. Bond financing terms
Freedom Holding signed an October 23, 2026, agreement with Kokzhiyek Fund for up to $1.16 billion in bonds to be issued by its wholly owned subsidiary, FRHC-IF.SPC. The five-year bonds carry a 7.8% annual coupon, payable semiannually, and proceeds will finance seven investment projects.
2. Guarantees and disbursement
The issuer, parent or project companies must contribute at least 20% of the issuance’s aggregate funding. Freedom Holding, Freedom Kazakhstan and CEO Timur Turlov guarantee the issuer’s obligations. Funds will be released from escrow in stages through December 30, 2028, unless extended; bonds corresponding to undisbursed proceeds face mandatory redemption.
