Annual report pursuant to Section 13 and 15(d)

DEBT SECURITIES ISSUED

v3.23.2
DEBT SECURITIES ISSUED
 12 Months Ended
Mar. 31, 2023
Debt Securities [Abstract]  
DEBT SECURITIES ISSUED DEBT SECURITIES ISSUED
As of March 31, 2023 and 2022, outstanding debt securities of the Company included the following:
Debt securities issued by March 31, 2023 March 31, 2022
(Recasted)
Freedom SPC $ 58,582  $ 13,200 
Freedom Holding Corp. —  20,500 
Accrued interest 1,443  690 
Total debt securities issued $ 60,025  $ 34,390 
As of March 31, 2023, the Company's outstanding debt securities had fixed annual coupon rates of 5.5% and maturity date in October 2026. As of March 31, 2022, the Company’s outstanding debt securities had fixed annual coupon rates ranging from 5.5% to 7% and maturity dates ranging from December 2022 to October 2026.
As of December 31, 2022, the Company fully redeemed FRHC notes, which were issued from December 2019 to February 2020. The FRHC notes denominated in U.S. dollars, bear interest at an annual rate of 7% and were due in December 2022. The FRHC notes were issued under Astana International Financial Centre law and traded on the AIX.
The Company’s debt securities as of March 31, 2023, include $58,582 of Freedom SPC bonds issued in October 2021. The Freedom SPC bonds are denominated in U.S. dollars, bear interest at an annual rate of 5.5% and are due in October 2026. The Freedom SPC bonds were issued under Astana International Financial Centre law and trade on the AIX. FRHC is a guarantor of the Freedom SPC bonds. The proceeds from the issuance of the Freedom SPC bonds were loaned to FRHC pursuant to a loan agreement dated November 22, 2021. The interest rate under the loan agreement is 5.5% per annum. Interest payments are duly semi-annually in April and October. Repayment of the loan is due October 2026. Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. The group has no covenants to comply with.