GRATA International's Banking & Finance Group is a leading legal counsel in the area of capital markets, project finance and infrastructure projects development, and financial transactions in Central Asia and in Kazakhstan in particular.
GRATA's rapidly growing Banking & Finance Group currently comprises over 10 local lawyers, almost all with second law degrees from the UK, USA, or other leading western universities. The majority are based in Kazakhstan (Almaty) with others based in our Azerbaijan (Baku), Kyrgyzstan (Bishkek), Russia (Moscow) and Uzbekistan (Tashkent).
Our aim is to become a leading finance practice in the legal market of Central Asia. This means that GRATA's Banking & Finance Group aims to set the standard for legal support in capital markets, and in general for the finance sector, to monitor the needs of our clients online and to provide them with individualized legal solutions in order to help them carve out a leading market niche.
The ability to provide legal services at the best value and our understanding of the local cultures of Central Asia are some of our strengths.
We are proud that our clients, some of the largest local and international banks and companies from different industry sectors, have trusted GRATA’s knowledge and expertise for more than 20 years now.
Listed, Chambers Asia-Pacific: Asia-Pacific's Leading Lawyers for Business (2013, 2014,2015)
Listed, Chambers Global: Leading Lawyers for Business (2013, 2014, 2015)
advising Bank of China (Hong Kong) Limited on a USD 7.5 billion syndicated secured loan facility to Asia Gas Pipeline LLP to finance a gas pipeline project in Kazakhstan;
advised European Bank for Reconstruction and Development on USD 15 million financing of two Kazakh gold-mining companies wishing to acquire new mining machinery;
advising China Development Bank on a USD 1.8 billion syndicated secured loan facility to Beineu - Shymkent Gas Pipeline LLP (controlled 50-50 by KazTransGas and CNPC) to finance a gas pipeline project in Kazakhstan;
advising China Development Bank on a USD 4.7 billion syndicated secured loan facility to Asia Gas Pipeline LLP to finance a gas pipeline project in Kazakhstan;
advised RBS and Sberbank CIB as Arrangers and Dealers on the USD 500 million drawdown under USD 680 million Global Medium Term Note Programme of JSC Samruk-Energo;
advised BNP Paribas, Citigroup Global Markets Limited, HSBC Bank, VTB Capital as Managers on USD 3,5 billion Euro Medium Term Note Programme of Eurasian Development Bank;
advised Sberbank, the largest Russian bank, on its USD 2 billion debt facility to Eurasian Natural Resources Corporation plc, secured by guarantees issued by Kazakh subsidiaries of ENRC;
advised US Export-Import Bank on secured loan to Lokomotiv JSC, a subsidiary of Kazakh national rail company, to renew locomotives park;
advised BNP Paribas on a secured USD 100 million syndicated facility to Eastcomtrans LLP, a large Kazakh transport company, to purchase rolling stock;
advised Samsung C&T and KEPCO on their investments in the Balkhash Power Plant (debut Independent Power Producer project in Kazakhstan with total value USD 4 bn.) where GRATA, among other things, drafted and negotiated with the Government of Kazakhstan an unprecedented international treaty between Kazakhstan and South Korea (signed in 2011);
advised EuroChem, Russia’s largest mineral fertilizer producer, on its investment in the Chemical Producing Plant in South Kazakhstan (USD 2 bn. total value infrastructure project) where GRATA, among other things, drafted and negotiated with the Government of Kazakhstan unprecedented host government agreement between the Republic of Kazakhstan and a foreign investor (signed in January 2012);
advised Credit Suisse, UBS Investment Bank and Visor Capital as Joint Global Coordinators and Joint Bookrunners, Renaissance Capital as Joint Bookrunner and Halyk Finance as Co-Manager on the public offering of JSC KCell, the largest cellular service provider in Kazakhstan, including on the listing of GDRs on LSE and shares on Kazakh stock exchange;
advised International Finance Corporation on its investment on USD 25 million in the Eurasia Real Estate Development Company (Eurasia RED) to build a premium-class retail center in Almaty;
advising Astana Finance, a large Kazakh financial services company, on USD 2 billion debt restructuring.
Three local level public–private-partnership (PPP) projects are on the brink of collapse due to the relevant local state body of the Mangistau region failing to meet its obligations under the PPP agreements and to
pay on time to the respective private partners for constructed and operating kindergartens. It was alleged that the money needed for these PPP projects did not appear on the books of the local government in time, even though the respective PPP agreements, evidently, were duly executed and registered.
Micro, small and medium-sized companies in Kazakhstan will benefit from a syndicated loan of up to US$ 50 million arranged by the EBRD for the country’s largest micro-finance organisation, KMF.
Legal 500 has recently released its annual rankings of international law firms – Legal 500 EMEA 2019.
The capacity market was finally launched on the 1st January 2019 in Kazakhstan to encourage investment for the renovation of old, as well as construction of new, power infrastructure facilities.
On 28 February 2019, the seminar on Public Private Partnership in Healthcare System was held in Astana, Kazakhstan. Shaimerden Chikanayev, Partner, GRATA International spoke at the seminar with a presentation: "PPP in Healthcare System: Kazakh law perspective".
Though Kazakhstan adopted relevant legislation for domestic (such as the governed Kazakh law) Islamic banking transactions more than seven years ago and has a Muslim population of over 11 million, Islamic finance is still in the early stages of its development and Islamic products are rarely used. According to the National Bank of Kazakhstan (NBK), as of 2018, the share of Islamic banking assets account for only 0.16% of total banking sector assets in Kazakhstan.
On the 29th November 2018, Almaty, the former capital and the largest city in Kazakhstan, received responses from nine international consortia, consisting of companies from Japan, France, Russia, Turkey, Spain, China and Kazakhstan, to participate in the first stage of the open tender of the Almaty Light Rail Transit (LRT) public-private partnership (PPP) project.
Although the Kazakhstan securities market is the most developed in Central Asia, its development has been slow compared to the country’s banking sector.
Kazakhstan has high ambitions in China’s Belt and Road initiative (BRI) as it is geographically an ideal junction between China and the west.
On 3-4 July 2018, an International PPP Finance Summit 2018 took place in London, UK.
Modeled on the Dubai International Financial Centre, the Astana International Financial Centre (AIFC) was officially launched on the 5th July this year, established with the aim of bridging the gap between the world’s major fi nancial centers and a regional gateway for capital and investments.
GRATA International has been recognised for its Deal of the Year 2017 by China Business Law Journal.
In this article, SHAIMERDEN CHIKANAYEV outlines some of the key legal developments and challenges faced by the Islamic finance market in Kazakhstan in 2017 and provides an overview of some of the major factors that will shape the Islamic finance industry's growth and trends in Kazakhstan in 2018.
Asialaw Profiles – the guide to Asia-Pacific’s leading
lawyers and law firms has identified key legal practitioners in Kazakhstan
We would like to draw your attention to some important changes in the laws of the Republic of Kazakhstan regarding the country's accession to the World Trade Organization.
Since 1991, Kazakhstan, Central Asia’s largest economy and oil producer, has had to rely on the deteriorating infrastructure it inherited from the Soviet Union. As a result, nearly every piece of public infrastructure (e.g., roads, hospitals, power plants, kindergartens, sewerages) in Kazakhstan requires a different degree of upgrading or expansion.
Kazakhstan in 2015 at a glance
China Business Law Journal released winners of “China Business Law Awards 2015” in its second issue for 2016
We note that the views expressed below are preliminary and may require further research and analysis. We also note that below information shall not be considered as a legal advice, and is provided as a general overview of business activity from the standpoint of legal consultant.
We draw your attention to the following recent changes in Kazakhstani legislation that occurred during the period of January – December 2015.
On 29 October 2015, the President of the Republic of Kazakhstan signed the Commercial Code of the Republic of Kazakhstan (hereinafter – the 'Code'), which comes into force from 1 January 2016 (except for certain provisions being effective from 6 February 2016, 1 March 2016, 1 January 2017, at the date of other laws enactment) and entails a range of significant changes in the common legal framework of the Republic of Kazakhstan (hereinafter – 'Kazakhstan').
104, M. Ospanov Street, Almaty, Republic of Kazakhstan, 050020
+7(727)2445 777; +7(701)7501 177
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