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DEBT SECURITIES ISSUED | 3 Months Ended
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Jun. 30, 2024
Debt Securities [Abstract] |
DEBT SECURITIES ISSUED | DEBT SECURITIES ISSUED As of June 30, 2024, and March 31, 2024, outstanding debt securities issued by the Group included the following:
Debt securities issued by: |  | June 30, 2024 |  | March 31, 2024 |  | Interest rate |  | Issue date |  | Maturity date
Freedom SPC bonds due 2028 |  | $ | 200,366 |  |  | $ | 200,386 |  |  | 1-2 years: 12% 3-5 years: EFFR + 6.5% |  | December, 2023 |  | December, 2028
Freedom SPC bonds due 2026 |  | 64,610 |  |  | 64,546 |  |  | 5.5% |  | October, 2021 |  | October, 2026
Accrued interest |  | 1,422 |  |  | 2,319 |  |  |  |  |  |  |
Total debt securities issued |  | $ | 266,398 |  |  | $ | 267,251 |  |  |  |  |  |  |
As of June 30, 2024 the carrying value of the Group’s debt securities issued was $64,610 Freedom SPC bonds due 2026 and $200,366 Freedom SPC bonds due 2028, respectively. 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. The proceeds from the issuance of such bonds were loaned to the Company pursuant to a loan agreement dated November 22, 2021. The loan has the same interest rate and maturity date as the bonds. 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 at nominal value plus accrued interest. After two years, the issuer has the option to redeem the bonds in full or in part at nominal value plus accrued interest. 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 in its debt securities.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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