Fincraft Energy Holding Limited, a company owned by businessman Kenes Rakishev, has amended the terms of its corporate bond program on the AIX exchange. The new version of the document was approved by the sole shareholder on June 17, 2026, replacing the previous version dated December 5, 2025. This was reported by Qazaqyia.kz citing Kursiv Media.
According to the document, the total volume of unsecured guaranteed bonds is 4.2 billion yuan (CNY). The yield is fixed at 9% per annum. The maturity date is December 29, 2035. The guarantor for the issuer's obligations is Fincraft Group LLP.
The previous version of the document stated that the bond issue volume was 1.2 billion yuan. Thus, the volume increased by 3 billion yuan.
The raised funds will be used to finance the acquisition (directly or indirectly) of shares or equity interests in one or more legal entities.
The main innovation of the updated document is a detailed revision of the section on penalties for violating obligations to bondholders.
In case of delay in payment of principal or coupon interest, the issuer is obliged to pay a penalty of 0.1% of the debt amount for each day of delay. However, the total amount of accrued penalties cannot exceed 10% of the outstanding balance.
If misuse of the raised funds is detected, the company is obliged, at the request of the holders, to pay a fine of 10% of the amount of misuse, and also to return these funds in full.
If a specific deadline is set, the fine will be 10 monthly calculation indices (MCI) for each day of delay (but not more than 10% of the debt amount). If no deadline is set, the issuer will pay a one-time fine of 200 MCI for each violation, and in case of a repeated incident — 500 MCI for each subsequent case.
Fincraft Energy Holding Limited is an oil and gas holding company of the Fincraft group, registered in the AIFC in November 2025. The company was created as a separate structure for consolidating and managing the group's energy assets, as well as attracting long-term investments in existing and future oil and gas projects.
At the beginning of 2026, at least two assets were transferred to Fincraft Energy Holding — Beineu Petroleum Limited and FG Limited; through FG Limited, a stake in Tethys Petroleum Limited was also transferred to the holding. Essentially, this is a new center for concentrating Fincraft's oil and gas business within the group structure.
Kenes Rakishev has a net worth of $402 million and ranks 27th in the list of the richest Kazakhs according to Forbes 2026. In the 2025 ranking of the most influential, he is in 10th place.