Led by Azamat Kuatbekov, Baker & McKenzie - CIS, Limited is focused on high profile cross-border transactions for international businesses operating in Kazakhstan and elsewhere in Central Asia. Alongside this, the firm has been recognised for its work in the aviation finance space. Alexander Korchagin, a counsel in the Almaty office of the firm, is a key member of the team.
Banking, finance and capital markets in Kazakhstan
Baker & McKenzie - CIS, Limited
Other key lawyers:
Alexander Korchagin
Key clients
Work highlights
Centil Law
Centil Law‘s banking and finance practice has been involved in multi-jurisdictional projects, including work concerning both the private sector and multilateral financial institutions. Members of the firm provide a full scope of banking and finance services under Kazakh law, with members such as practice head Dinara Jarmukhanova advising international banks in relation to local and international financing transactions. Dariga Adanbekova and Asror Fayzov are noted from the firm.
Practice head(s):
Dinara Jarmukhanova
Other key lawyers:
Dariga Adanbekova; Asror Fayzov
Key clients
China Development Bank
Eurasian Resources Group
International Finance Corporation
Deutsche Bank AG, London Branch
Barclays Bank PLC
Samsung C&T Corporation
Work highlights
- Advised Sberbank of Russia PJSC on the restructuring of multi-jurisdictional facilities for an amount of up to $4.9bn, which included replacement of borrowers, security providers, currency, etc.
- Instructed by Gazprombank JSC on funding for a $2.2bn acquisition of Kazakh companies that are subsoil users and strategic objects.
Dentons
Experienced in complex cross-border financing and capital markets transactions, Dentons provides a full service to clients within banking, finance and capital markets, covering deals in multiple areas such as syndicated financing, equipment leasing, asset finance, aviation finance, financial institutions regulation and debt capital markets. Managing Partner Abai Shaikenov advises Kazakh clients in complex and unique transactions, whereas Vassiliy Zenov is recognised for his skills in drafting banking and finance-related statutory amendments. Ali Imanalin is a name to watch for his broad practice involving complex cross-border transactions governed by English law.
Practice head(s):
Vassiliy Zenov
Other key lawyers:
Abai Shaikenov; Ali Imanalin
Testimonials
‘The team is professional, well-coordinated and has a profound understanding and practical knowledge of the industry. ’
‘Dennis Montgomery, Vasilliy Zenov and Ali Imanalin did a great job under tight deadlines.’
‘The team is professional, always available to address any issues and very well-balanced in terms of skills and areas of expertise. Financial transactions that we work on often require assistance outside of normal business hours and attention to detail (e.g., multiple counterparties and moving terms), and the team is supportive and highly efficient. In our experience, Dentons Kazakhstan has the strongest team in the Kazakh market.’
‘Ali Imanalin and Dameli Karakulova are key members of the team. They are professional, creative and reliable.’
‘ Dentons Kazakhstan Banking and Finance Practice has been very efficient and easy to work with and the team are quick to respond to clients’ needs. The advice is clear and collaborate well with international clients. ’
‘Vassiliy Zenov has a good understanding of the sophistication of the international banking and finance market, and practices which makes him well equipped to assist in navigating the less developed market in Kazakhstan. He has in-depth knowledge of the local legislative landscape and understands what international clients needs to get comfortable with in order to enter the local market. He is practical and client focused. ’
‘Dentons team supported acquisition and financing workstreams for the Almaty project which has been the pivotal key acquisition/investment for the group. Quite happy with the Dentons team support which enabled direct communication across the team at all times. Fair billing.’
‘Christopher Rose and Anna Booth have been key individuals leading the process as well as Gani Ashimkhan on the local end.’
Key clients
EBRD
International Swaps and Derivatives Association
Asian Development Bank
Astana Financial Services Authority
TAV Airports Holding
Work highlights
- Assisting EBRD, the National Bank of Kazakhstan and the Agency for Regulation and Development of Financial Market in Kazakhstan with the establishment of an effective legal framework for resolving and selling non-performing loans in Kazakhstan.
- Issuing an “industry netting opinion” for Kazakhstan for the benefit of ISDA and its members on enforceability of the termination, bilateral close-out netting and multibranch netting provisions of the ISDA Master Agreement which would cover the variety of types of Kazakh counterparties.
- Developing an effective legal framework for cross-border OTC derivatives. The project aims to align Kazakh law with the best international standards such as the UNIDROIT Principles on Close-Out Netting Provisions and the ISDA Model Netting Act.
Morgan, Lewis & Bockius LLP
Led by firm managing partner Aset Shyngyssov
, the finance offering at Morgan, Lewis & Bockius LLP in Kazakhstan advises corporates, banks, equity funds and sovereign wealth funds across a number of areas including secured financing and cross-border joint ventures. Alongside this, the firm is seen on a number of cross-border transactions in regions including the US, UK, France, UAE and Singapore. Aida Akhmetova represents clients involved in cross-border investments and commercial transactions in Kazakhstan, whereas Asem Bakenova and Bakhytzhan Kadyrov are both noted individuals from the firm. Senior Associate Anna Kornilova joined from Kinstellar LLP .
Practice head(s):
Aset Shyngyssov
Other key lawyers:
Bakhytzhan Kadyrov; Asem Bakenova; Aida Akhmetova
Key clients
EBRD
Asian Development Bank
Tiryaki Agro
Freedom Corp.
Compass Group
PSA International Pte Ltd.
Oppenheimer
Astana Group
Bumi Armada
Wabtec Corporation
Work highlights
- Advised EBRD and ADB on secured financing of a project for replacement of coal by natural gas.
- Instructed by PSA Eagle Pte. Ltd. In connection with a strategic joint venture with Kazakhstan Termir Zholy.
- Advised Oriental Sunrise Corp. Ltd. in an acquisition of 60% operating interest in large onshore Dunga oil field in Kazakhstan from TotalEnergies EP Danmark A/S.
SIGNUM Law Firm
SIGNUM Law Firm‘s banking and finance practice continues to find its strengths in areas including debt-to-equity, project finance, debt restructuring and PPP finance transitions involving multinational clients. Liza Zhumakhmetova advises clients on large cross-border transactions, while Sofiya Zhylkaidarova handles transactions for clients in the oil and gas industry. Ulan Stybayev is noted for his experience in transactional and development projects.
Practice head(s):
Liza Zhumakhmetova; Sofiya Zhylkaidarova; Abylkhair Nakipov
Other key lawyers:
Ulan Stybayev
Testimonials
‘Responsive, efficient, technically strong, an exporter as well as a receiver of work; exemplary.’
Key clients
EBRD
CITCO Group
Work highlights
- Advised one of Europe’s leading financial services groups on a $750m project finance facility to a major copper producer in Central Asia.
- Instructed by the European Bank for Reconstruction and Development, acting as the lender, on the implementation of a PPP project in the health care sector of Kazakhstan.
- Advised on a $50m acquisition finance transaction to secure funding for a buy-side M&A transaction by the third Fortune 500-listed company.
AEQUITAS
AEQUITAS finds its strengths within securities transactions, bank loans, acquisition of assets, shares and commodities. Yelena Manayenko leads the practice, with experience in major transactions and projects, alongside advising clients on the issues of structuring local and international transactions. Yekaterina Khamidullina is noted for her expertise in project finance and anti-corruption compliance matters.
Practice head(s):
Yelena Manayenko
Other key lawyers:
Yekaterina Khamidullina
Work highlights
GRATA International
GRATA International has experience in PPP deals, including full involvement on such projects in Kazakhstan and other Central Asian jurisdictions. Within capital markets, the team has extensive experience in areas such as IPOs and Eurobonds issuances. Shaimerden Chikanayev co-leads the firm with Marina Kahiani, with Chikanayev experienced in cross-border lending and capital markets alongside project finance, whereas Kahlani has a proven track record in heavyweight deals.
Practice head(s):
Shaimerden Chikanayev; Marina Kahlani
Key clients
European Bank for Reconstruction and Development
China Development Bank
Bank of China (Hong Kong)
International Finance Corporation
Renaissance Capital
Bloomberg
Islamic Development Bank
Sucres & Denrées
DEG – Deutsche Investitions- und Entwicklungsgesellschaft
China International Capital Corporation (Hong Kong) Limited
Asian Development Bank
Mastercard
Work highlights
White & Case Kazakhstan LLP
White & Case Kazakhstan LLP‘s capital markets team is noted for its cross-border practice within Kazakhstan handling areas such as IPO transactions, working with lenders and general transactions, with the firm having the ability to refer and receive multi-jurisdictional work from its US and UK counterparts. Maxim Telemtayev co-leads the firm with Semion Issyk, with Telemtayev experienced in cross-border commercial transactions, while Issyk has expertise in banking, debt finance and equity capital markets.
Practice head(s):
Maxim Telemtayev; Semion Issyk
Testimonials
‘With a presence in major financial centers worldwide, they offer clients a truly global perspective. This is invaluable for businesses operating across borders or seeking international investments. The firm continually explores innovative legal strategies to optimize financial structures, mitigate risks, and achieve our financial objectives.’
‘The team’s profound understanding of banking and finance regulations is evident. They’ve successfully navigated complex regulatory landscapes, ensuring our compliance and minimizing risks. ’
Key clients
Nostrum Oil & Gas plc
National Company “KazMunayGas”
IFC
EBRD