MyCar Finance Places 1.1 Billion Tenge in Bonds at 21% Annual Yield

MyCar Finance MFO LLP completed the placement of its MFMCb3 bond series on the Kazakhstan Stock Exchange, raising a total of 1.1 billion tenge. The securities are listed on the main KASE platform in the bonds category, with a face value of 1,000 tenge and a maturity period running from May 2026 to May 2028. Coupon payments are made quarterly at an annual rate of 21%, making the instrument attractive for investors seeking high current yield. The elevated coupon reflects both the prevailing interest rate environment in Kazakhstan and the higher credit risk typical of the microfinance sector. MyCar Finance specializes in financing vehicle purchases, which gives the company a straightforward and understandable business model. Investors should consider the issuer's limited scale and associated credit risks when adding such securities to a portfolio.