Kazakhstan’s €1.050 Billion Euro-denominated Bonds Offering

White & Case LLP has advised Citigroup, Société Générale and BCC Invest on the update of the Republic of Kazakhstan’s US$10 billion global medium term note programme and issuance thereunder of €525 million 1.55 percent Notes due 2023 and €525 million 2.375 percent Notes due 2028.

The dual-tranche issuance is the first ever issue of Euro-denominated bonds by Kazakhstan. In addition to being listed on the London Stock Exchange, the bonds are also listed on the Astana International Exchange (AIX), the newly established stock exchange in the Astana International Financial Centre, whose rulebook White & Case helped to draft. Approximately 11 percent of the ten-year tranche was sold through the AIX.

White & Case advised with a team including Debashis Dey (Picture – Dubai & London), Ian Clark (London) and Pavel Kornilov (Astana) with support from partner Charles Balmain (London) and associates James Clarke (London), Sankalp Labroo (Dubai), Karina Sultanaliyeva and Alikhan Baizakov (both Astana).

Involved fees earner: Alikhan Baizakov – White & Case; Charles Balmain – White & Case; Ian Clark – White & Case; James Clarke – White & Case; Debashis Dey – White & Case; Pavel Kornilov – White & Case; Sankalp Labroo – White & Case; Karina Sultanaliyeva – White & Case;

Law Firms: White & Case;

Clients: BCC Invest JSC; Citigroup Inc.; Société Générale;

Author: Michael Patrini.