Morgan Lewis Advises Republic of Kazakhstan on $2.5 Billion Sovereign Bond Offering
First Sovereign Bond Offering by Kazakhstan Since 2000; First Ever Offering of Sovereign Bonds Containing the New ICMA Bondholder Voting Framework
(firmenpresse) - LONDON, UNITED KINGDOM and ALMATY, KAZAKHSTAN -- (Marketwired) -- 10/14/14 -- The Republic of Kazakhstan has today closed a $2.5 billion Eurobond offering.
The offering was made under Rule 144A and Regulation S, and the bonds are listed on the London Stock Exchange. The bonds were issued in two tranches, a $1.5 billion tranche of 3.875% Notes due 2024 and a $1 billion tranche of 4.875% Notes due 2044.
The transaction is the first sovereign bond offering by Kazakhstan since 2000. It is also the first ever offering of sovereign bonds containing the International Capital Markets Association's new collective action clauses and pari passu clause, introduced in response to the Argentina sovereign bond crisis, making it a milestone in the reform of the sovereign bond markets.
Morgan Lewis served as U.S., English and Kazakhstan legal adviser to Kazakhstan on the offering. The Morgan Lewis team was led by London-based Business and Finance partner , who was joined by a London-Almaty team that included Business and Finance partner and Business and Finance associates and .
Carter Brod commented, "We are delighted to have had the opportunity to assist Kazakhstan with this important and successful capital-raising transaction, which establishes a benchmark for Kazakhstan corporate bond issues going forward."
Morgan Lewis's nearly 400-lawyer Business and Finance Practice assists a diverse global clientele in the United States, Europe, Asia, and the Middle East with the full scope of strategic transactional matters, from mergers and acquisitions to fund formation and restructuring. Recent European work highlighting the group's international reach includes ; 's merger with Cornerstone Therapeutics; and Russian state development bank . Morgan Lewis consistently ranks among the premier transactional law firms, including the Top 10 in M&A transactions by Thomson Reuters, Mergermarket, Bloomberg, and Buyouts (2013), and was ranked Number One most active law firm globally based on the number of private equity funds worked on for general and limited partners (Dow Jones Private Equity Analyst, 2013). Learn more about the firm's Business and Finance Practice at .
Morgan Lewis provides comprehensive litigation, corporate, transactional, regulatory, intellectual property, and labor and employment legal services to clients of all sizes -- from globally established industry leaders to just conceived start-ups. We craft and execute business- and industry-specific strategies that align with today's evolving economic and regulatory conditions, and that address the full scope of our clients' challenges and opportunities in the courtroom, in the boardroom, within the workforce, and in government and policy matters.
Founded in 1873, Morgan Lewis offers more than 1,600 legal professionals -- including lawyers, patent agents, benefits advisers, regulatory scientists, and other specialists -- in 25 offices across the United States, Europe, Asia, and the Middle East. For more information about Morgan Lewis or its practices, please visit us online at .
Paula Crymble
Myddleton Communications, London
+44 (0) 20 7689 5545
Carter Brod
Partner
Morgan, Lewis & Bockius
+44.20.3201.5623
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Datum: 14.10.2014 - 14:24 Uhr
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News-ID 343862
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LONDON, UNITED KINGDOM and ALMATY, KAZAKHSTAN
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