Solva High-Yield Bonds Great support for the MSMe business

How do we use the funds raised?

The funds that we attract through the placement of bonds are directed to lending to the real sector of the economy of Kazakhstan, namely, micro and small businesses. Over the past 24 months, 52 thousand entrepreneurs across the country have received credit funds in the amount of 66 billion tenge. As part of a separate loan program, we also promote the development of women's entrepreneurship.

₸ 20+ billion

Cumulative payments on bonds

Follow the link

₸ 60+ billion

Issued Bonds

2000+

Individual and institutional investors

Why is the demand for

Solva
bonds

always high

Successful public credit history and stable credit rating at the level of second-tier banks

MFO Onlinekazfinance JSC is the first issuer of corporate bonds from the MFI sector in the Republic of Kazakhstan. Since the launch of the first bonds issue in 2020 on the Kazakhstan Stock Exchange (KASE) and Astana International Exchange (AIX), the company has been fulfilling its obligations to investors, regardless of geopolitical and socio-economic factors. The credit rating was confirmed by S&P Global Ratings in July 2022 at the level of "B-/B", the forecast is "stable".

High standards of risk management and corporate governance

Despite impressive growth, the quality of the loan portfolio remains at a consistently high level – the share of overdue loans over 90 days was only 5.1% in 2021, and in the first half of 2022 the figure was below 5%.

Since 2021, the Company formed a supervisory board, which includes independent members. In 2022 the company’s internal audit service was established, the service reports directly to the supervisory board.

The largest MFI in the unsecured lending segment

As of the end of July 2022, the size of the loan portfolio of MFI "OnlineKazFinance" exceeded 76 billion tenge. Portfolio growth in 2021 amounted to 26 billion tenge or 43% y/y.

Fast growth rate achieved in difficult market conditions – Covid-19 pandemic, geopolitical shocks in CIS, growing inflation – indicates effective approach to business management and consistently high demand for the Company's products.

Local team with international experience

Solva is owned by international fintech investors who have successfully developed businesses in the online lending and distressed debt collection segments in Spain, Mexico, Vietnam and Singapore.

Solva management team members held senior management positions at major banks and IT companies in Kazakhstan and Russia.

Planned transformation from MFI to bank in 2023

Solva's strategic goal for 2023 is to receive a banking license and transform from an MFI into a bank, which will make it Kazakhstan’s first credit and financial institution to work with micro and small businesses.

Bonds Cards

Stock Exchange: Kazakhstan Stock Exchange (KASE)
ISIN: KZ2C00009769
Trading Symbol: MFOKb11
Security Value: 1 000 KZT
Term to Maturity: 02.06.23– 02.06.25
Annual Coupon Rate: 21% + indexation to USD/KZT (according to the formula)
Bond yield: 21,5%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
02.06.23

Left: 0

02.06.25
Stock Exchange: Kazakhstan Stock Exchange (KASE)
Bond type: Coupon bonds
ISIN: KZ2C00009785
Trading Symbol: MFOKb12
Security Value: 1 000 KZT
Term to Maturity: 24.08.23 – 24.08.24
Annual Coupon Rate: 21%
Bond yield: 21%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
24.08.23

Left: 0

24.08.24
Stock Exchange: Kazakhstan Stock Exchange (KASE)
Bond type: Coupon bonds
ISIN: KZ2C00009793
Trading Symbol: MFOKb13
Security Value: 1 000 KZT
Term to Maturity: 12.06.23-12.06.24
Annual Coupon Rate: 21%
Bond yield: 21%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
12.06.23

Left: 0

12.06.24
Stock Exchange: Kazakhstan Stock Exchange (KASE)
Bond type: Coupon bonds
ISIN: KZ2C00009801
Trading Symbol: MFOKb14
Security Value: 1 000 KZT
Term to Maturity: 20.09.23 – 20.09.24
Annual Coupon Rate: 21%
Bond yield: 21%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
20.09.23

Left: 0

20.09.24
Stock Exchange: Kazakhstan Stock Exchange (KASE)
Bond type: Coupon bonds
ISIN: KZ2C00010122
Trading Symbol: MFOKb15
Security Value: 1 000 KZT
Term to Maturity: 04.10.23 – 04.10.24
Annual Coupon Rate: 21%
Bond yield: 20,75%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
04.10.23

Left: 0

04.10.24
Stock Exchange: Kazakhstan Stock Exchange (KASE)
Bond type: Indexed coupon bonds
ISIN: KZ2C00010171
Trading Symbol: MFOKb16
Security Value: 1 000 KZT
Term to Maturity: 14.11.23 – 14.11.25
Annual Coupon Rate: 20% (max. coupon 24%/ min.19% according to the formula in prospectus
Bond yield: 21%
Payment schedule:
Credit Rating: B-/B (stable) S&P
Prospectus: Follow the link
Registered: The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
14.11.23

Left: 0

14.11.25
Register fixing date Coupon payment start date Payment closing date
01.07.23 02.07.23 16.07.23
01.08.23 02.08.23 16.08.23
01.09.23 02.09.23 16.09.23
01.10.23 02.10.23 16.10.23
01.11.23 02.11.23 16.11.23
01.12.23 02.12.23 16.12.23
01.01.24 02.01.24 16.01.24
01.02.24 02.02.24 16.02.24
01.03.24 02.03.24 16.03.24
01.04.24 02.04.24 16.04.24
01.05.24 02.05.24 16.05.24
01.06.24 02.06.24 16.06.24
01.07.24 02.07.24 16.07.24
01.08.24 02.08.24 16.08.24
01.09.24 02.09.24 16.09.24
01.10.24 02.10.24 16.10.24
01.11.24 02.11.24 16.11.24
01.12.24 02.12.24 16.12.24
01.01.25 02.01.25 16.01.25
01.02.25 02.02.25 16.02.25
01.03.25 02.03.25 16.03.25
01.04.25 02.04.25 16.04.25
01.05.25 02.05.25 16.05.25
01.06.25 02.06.25 16.06.25
Register fixing date Coupon payment start date Payment closing date
11.07.23 12.07.23 18.07.23
11.08.23 12.08.23 18.08.23
11.09.23 12.09.23 18.09.23
11.10.23 12.10.23 18.10.23
11.11.23 12.11.23 17.11.23
11.12.23 12.12.23 19.12.23
11.01.24 12.01.24 18.01.24
11.02.24 12.02.24 16.02.24
11.03.24 12.03.24 18.03.24
11.04.24 12.04.24 18.04.24
11.05.24 12.05.24 17.05.24
11.06.24 12.06.24 18.06.24
Register fixing date Coupon payment start date Payment closing date
24.09.23 23.09.23 29.09.23
24.10.23 23.10.23 31.10.23
24.11.23 23.11.23 30.11.23
24.12.23 23.12.23 29.12.23
24.01.24 23.01.24 30.01.24
24.02.24 23.02.24 01.03.24
24.03.24 23.03.24 01.04.24
24.04.24 23.04.24 30.04.24
24.05.24 23.05.24 30.05.24
24.06.24 23.06.24 28.06.24
24.07.24 23.07.24 30.07.24
24.08.24 23.08.24 02.09.24
Register fixing date Coupon payment start date Payment closing date
20.10.23 19.10.23 30.10.23
20.11.23 19.11.23 27.11.23
20.12.23 19.12.23 27.12.23
20.01.24 19.01.24 26.01.24
20.02.24 19.02.24 27.02.24
20.03.24 19.03.24 01.04.24
20.04.24 19.04.24 26.04.24
20.05.24 19.05.24 27.05.24
20.06.24 19.06.24 27.06.24
20.07.24 19.07.24 26.07.24
20.08.24 19.08.24 27.08.24
20.09.24 19.09.24 27.09.24
Register fixing date Coupon payment start date Payment closing date
03.11.23 04.11.23 10.11.23
03.12.23 04.12.23 08.12.23
03.01.24 04.01.24 10.01.24
03.02.24 04.02.24 09.02.24
03.03.24 04.03.24 11.03.24
03.04.24 04.04.24 10.04.24
03.05.24 04.05.24 14.05.24
03.06.24 04.06.24 10.06.24
03.07.24 04.07.24 11.07.24
03.08.24 04.08.24 09.08.24
03.09.24 04.09.24 10.09.24
03.10.24 04.10.24 10.10.24
Register fixing date Coupon payment start date Payment closing date
13.11.23 14.11.23 28.12.23
13.12.23 14.12.23 28.01.24
13.01.24 14.01.24 28.02.24
13.02.24 14.02.24 28.03.24
13.03.24 14.03.24 28.04.24
13.04.24 14.04.24 28.05.24
13.05.24 14.05.24 28.06.24
13.06.24 14.06.24 28.07.24
13.07.24 14.07.24 28.08.24
13.08.24 14.08.24 28.09.24
13.09.24 14.09.24 28.10.24
13.10.24 14.10.24 28.11.24
13.11.24 14.11.24 28.12.24
13.12.24 14.12.24 28.01.25
13.01.25 14.01.25 28.02.25
13.02.25 14.02.25 28.03.25
13.03.25 14.03.25 28.04.25
13.04.25 14.04.25 28.05.25
13.05.25 14.05.25 28.06.25
13.06.25 14.06.25 28.07.25
13.07.25 14.07.25 28.08.25
13.08.25 14.08.25 28.09.25
13.09.25 14.09.25 28.10.25
13.10.25 14.10.25 28.11.25

Media about Solva:

Awards

Leader of the ESG bonds market

KASE Awards 2023

High Yield Debt Deal of the Year (20 bn KZT ESG bond placement)

Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023

Best ESG Bond Deal in Kazakhstan

Cbonds Awards CIS 2023

Leading Retail Bond Issuer in Kazakhstan

Cbonds Awards CIS 2023

How to buy bonds?

  • Please, leave the request. Our team will assist you during the process

  • Deposit your brokerage account and apply for the purchase of bonds through the manager

  • Congratulations! You are an investor. We will accompany you throughout the whole process

Talk to our investment team



    • To purchase bonds

    • To apply for micro loan

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    Rinat Aliyev

    Director of investor Relations

    Investor Relations Department

    Assel Abildayeva

    Head of Investments Sales

    Investor Relations Department

    Aynur Chelikenova

    Expert of Investor Relations

    Investor Relations Department

    Anzhela
    Kim

    Head of Institutional Sales

    Investor Relations Department