November 2021 – Kinstellar is pleased to announce that our team in Almaty has advised Citibank, MUFG, UBS Investment Bank and VTB Capital, as joint lead managers and joint bookrunners, on the successful USD 500 million bond issue (2% notes due in 2026) by Samruk-Kazyna, Kazakhstan's sovereign wealth fund.

The profits will be used by Samruk-Kazyna to refinance existing debts and for general corporate purposes.

The Kinstellar team was led by Partner Joel Benjamin and Pavel Kornilov (Counsel), with support from Yerbol Konarbayev (Senior Associate) and Alikhan Baizakov (Associate).