GRATA Law Firm's Finance & Securities 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.

Rapidly growing, GRATA's Finance & Securities Group currently comprises over 10 local lawyers, almost all with second law degrees from the UK, USA or other western leading universities, the majority being based in Almaty (Kazakhstan) and others based in our Baku (Azerbaijan), Bishkek (Kyrgyzstan), Moscow (Russia),  Tashkent (Uzbekistan) and Ulaanbaatar (Mongolia) offices.

Our aim is to become a leading finance practice in the legal market of Central Asia. This means that GRATA's Finance & Securities Group aims to set the standard for legal support in capital markets and in general for the finance sector, to online monitor the needs of our clients 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 which offer value for money and our understanding of the local cultures of Central Asia are some of our strengths.

We are proud that our clients, 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.

GRATA's Finance & Securities Department has established effective cooperation with the financial regulators across Central Asia and the Caucasus and also with local and international stock exchanges, investment banks, international law firms and consultants, which allow us to provide our clients with the best-in-class solutions for their needs.

Our services:

  • Aircraft, Maritime and Railcar Finance & Leasing;
  • Bank and Corporate Lending;
  • Banking & Insurance Disputes;
  • Bond Offerings;
  • Derivatives;
  • Financial Services Regulation;
  • Foreign Direct Investments;
  • Mergers & Acquisitions;
  • Debt Restructuring & Insolvency;
  • Initial and Secondary Public Offerings;
  • Insurance;
  • Islamic Finance;
  • Project Finance & PPP;
  • Securitization

 Publications:

    

 

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Listed, Chambers Asia-Pacific: Asia-Pacific's Leading Lawyers for Business (2013, 2014, 2015)         
Listed, Chambers Global: Leading Lawyers for Business (2013, 2014, 2015)

Below we list some of the recent projects handled by our Banking & Finance lawyers:

  • advising Bank of China (Honk 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.
Name Position Contacts
Shaimerden Chikanayev Partner, Director of Banking & Finance Department Inquire
Atabek Sharipov Partner, Head of Turkmenistan Practice, Head of Banking & Secured Transactions in Uzbekistan and Turkmenistan Inquire
Nurlan Kyshtobaev Partner, Head of Banking & Finance Practice in Tajikistan and Kyrgyzstan offices Inquire
Marina Kahiani Partner Inquire
Yana Dianova Director of Corporate and Commercial Law Department, GRATA International (Moscow) Inquire
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13.04.2016

PPP in Kazakhstan

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.

01.03.2016

Major Kazakhstan legislation changes for 2015

Kazakhstan in 2015 at a glance

17.02.2016

GRATA International was ranked by Chambers and Partners Asia-Pacific Guide 2016

A new edition of the most authoritative international rating - Chambers&Partners Asia-Pacific Guide 2016 has been published this month.

01.02.2016

GRATA international’s Finance & Securities Group legal alert

We draw your attention to the following recent changes in Kazakhstani legislation that occurred during the period of January – December 2015.

28.12.2015

Commercial code review

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').

28.12.2015

Kazakhstan has adopted a new Law ‘On Public-Private Partnership’

In the Address, dated 29 January 2010, ‘New Decade - New Economic Growth - New Opportunities for Kazakhstan’, the President of the Republic of Kazakhstan – N.A. Nazarbayev, said, in particular: “A huge potential to attract private investments belongs to the public-private partnership mechanism.

03.12.2015

Legal framework of securities market (including IPO and Eurobonds) in the Republic of Kazakhstan

The securities market is primarily regulated by the provisions of the Kazakh Civil Code, the Securities Law, regulations of the National Bank of the Republic of Kazakhstan (NBK) and internal rules of the Kazakhstan Stock Exchange (KASE).

30.11.2015

Legal Alert On Recent Changes in Legislation of Kazakhstan

We draw your attention to the following recent changes in Kazakhstan legislation that occurred during the period of January - December 2015.

30.10.2015

Bankruptcy or Restructuring? The Dilemma of a Creditor and a Debtor in Kazakhstan

Presentation of Shaimerden Chikanayev, Partner of GRATA International: 'Bankruptcy or Restructuring? The Dilemma of a Creditor and a Debtor in Kazakhstan'.

28.09.2015

Public Private Partnership Contract as a New Civil Law Institution in the Republic of Kazakhstan

‘A great potential of raising private investment belongs to the public private partnership..'

23.09.2015

Experts of GRATA International took part in the Kazakhstani Legal Forum 2015

On 18 September 2015, the Kazakhstani Legal Forum has been organized in Almaty

28.08.2015

Review of recent developments to the legislation on natural monopolies and regulated markets in Kazakhstan

On 18 May 2015 the Law of the Republic of Kazakhstan 'On the Introduction of Amendments to Some Legislative Acts of the Republic of Kazakhstan on the Issues of Natural Monopolies and Regulated Markets' dated 5 May 2015 No. 312–V entered into force.

16.04.2015

GRATA Law firm is recommended as one of the leading law firms by The Legal 500 Europe, Middle East & Africa 2015

Grata Law Firm is ‘held in high regard’ by foreign clients and international law firms, and its large, full-service team.

09.04.2015

Project Finance 2015: Kazakhstan

Project finance in the strict sense of the term (i.e. where the financing structure is based on the performance of the project itself) has not yet been developed or tested so far in Kazakhstan.

17.02.2015

Natural monopolies regulation in Kazakhstan

Importance of so-called natural monopolies in Kazakhstan can be seen in the fact that some of Kazakhstan's largest and most powerful corporate empires, are officially subject to natural monopoly regulation

16.02.2015

GRATA Law firm is recommended as one of the leading law firms by Chambers Asia-Pacific 2015

Chambers Asia Pacific has published the world’s leading guides to the legal profession across the globe since 1990.

13.02.2015

Taking security in Kazakhstan

Kazakh law provides for several methods of securing obligation.

12.01.2015

Legal framework of investing in power industry of Kazakhstan

The article is aimed to summarise the laws of Kazakhstan in view of the potential local and foreign investor

05.11.2014

GRATA Law Firm is recommended as one of the Leading law firms by Asialaw Profiles

Asialaw Profiles is a comprehensive guide to the leading domestic and regional law firms in the Asia-Pacific region.

12.05.2014

GRATA Law Firm is recommended as one of the leading law firms by Chambers Asia-Pacific

Chambers Asia Pacific has published the world’s leading guides to the legal profession across the globe since 1990.

09.09.2013

Financing under a pledge of rolling stock

In Kazakhstan, funding secured by rolling stock is gaining popularity. Moreover, rail cars are provided by some companies as security for bonds issued by them.

09.09.2013

Financing by Pledges of Grain

The introduction of grain receipts and the creation of such a system is, objectively speaking, of fundamental importance to the grain market of Kazakhstan, in view of both public and commercial interests.

07.03.2013

Project Finance and PPP in Kazakhstan

The article is prepared by Shaimerden Chikanayev, Partner of GRATA Law Firm, for The European Lawyer Reference Series: Project Finance Jurisdictional Comparisons, 2012.

05.12.2012

A Brief Overview of Litigation Risks Which May Arise in the Course of Doing Business in Kazakhstan and the Ways to Mitigate Them

Our experience with foreign investors doing business in Kazakhstan demonstrates that foreign businesses operating in Kazakhstan may face a variety legal challenges and risks.

27.10.2012

Article on Kazakhstan capital market developments

This article examines recently adopted and proposed regulatory and legislative changes related to the development of local equity and debt capital markets in Kazakhstan and makes recommendations for future reforms.

11.10.2012

Kazakhstan is becoming a bright spot in the global market for legal services, comments by Rashid Gaissin, Managing Partner, and Aliya Aralbayeva, Counsel of GRATA Law Firm to The Lawyer Magazine (extract)

According to a joint study conducted by KPMG and the Overseas Development Institute this year, Kazakhstan is the fifth best placed country in the world to take advantage of opportunities in a rapidly changing global economy.

27.07.2011

Developments in Financial Legislation in Kazakhstan

Two main laws have been developed (one of which has already come into effect, while the other is yet to be passed).

Corporate Recovery & Insolvency 2016: Kazakhstan

The International Comparative Legal Guide : Corporate Recovery & Insolvency 2016, 10th edition. A practical cross-border insight into corporate recovery and insolvency work.

Corporate governance 2016: Kazakhstan

Under Kazakh law, all legal entities fall into two categories, depending on whether or not the acquisition of profit is the main purpose of their activity: commercial organisations; and noncommercial (non-profit) organisations. 


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Key contacts

Shaimerden Chikanayev

Partner, Director of Banking & Finance Department

Almaty

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