Company: FRHC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000924805-25-000031
Chunk: 200

Company: Freedom Holding Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 200
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-5 years: EFFR + 6.5%December, 2023December, 2028USDFreedom SPC bonds due 2027160,775 — 10.0%May, 2025May, 2027USDFreedom SPC bonds due 202664,865 64,801 5.5%October, 2021October, 2026USDFreedom SPC bonds due 202738,048 — 8.0%May, 2025May, 2027EURFreedom SPC bonds due 20271,017 — 9.0%May, 2025May, 2027CNYAccrued interest4,049 3,134 Total debt securities issued$670,125 $469,551 The Freedom SPC bonds are denominated in U.S. dollars, euros, Chinese yuans and were issued under Astana International Financial Centre ("AIFC") law and trade on the AIX. The Group is a guarantor of the Freedom SPC bonds.The Freedom SPC bonds due 2026 bear interest at an annual rate of 5.5% and 10.5%. The maturity dates for those bonds are in October and September 2026. Interest payments are due to be paid semi-annually in April and October, and on a quarterly basis.  For the first two years of Freedom SPC bonds due 2028, the annual interest rate is 12% and for subsequent years the interest rate will be fixed and set as the sum of Effective Federal Funds Rate (EFFR) as of December 10, 2025 and a margin of 6.5%. Interest is paid on a monthly basis. The bondholders have a right of early redemption after two years at nominal value plus accrued interest. After two years, following the issue date, the issuer has the option to redeem the bonds in full or in part at nominal value plus accrued interest.  During the three months ended June 30, 2025, the Group issued additional bonds with the aggregate amount of $199,204 with an annual interest rate of 8%, 9% and 10% and maturity date in May 2027. Interest is paid on a quarterly basis. Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. The Group has no financial covenants to comply with under the terms of its debt securities