Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 91

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 and October, respectively. The carrying value of Freedom SPC bonds due 2028 was $200,325. The Freedom SPC bonds are denominated in U.S. dollars and were issued under Astana International Financial Centre ("AIFC") law and trade on the AIX. The Company is a guarantor of the Freedom SPC bonds.The Freedom SPC bonds due 2026 bear interest at an annual rate of 5.5% and mature in October 2026. Interest is paid semi-annually in April and October. 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 following the issue date 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 quarter ended December 31, 2024, the Company issued additional bonds with the aggregate principal amount of  $200,000 with an annual interest rate of 10.5%  and maturity date in September 2026. 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.

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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 13 – INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

As of December 31, 2024, and March 31, 2024, assets from the Group's insurance activity comprised the following:December 31, 2024March 31, 2024Assets:Amounts due from policyholders$10,333 $10,260 Amounts due from reinsured4,064 2,274 Advances received from agent3,745 3,231 Claims receivable from reinsurance2,055 1,400 Allowance for