Linklaters has advised on the first-ever yuan-denominated bond issued by a Central Asian issuer

Linklaters has advised the joint lead managers in relation to the RMB 2bn 3.35% Notes due 2028 issued by the Development Bank of Kazakhstan, a subsidiary of Baiterek Holding.

Proceeds from the placement will be directed towards projects primarily supporting Kazakhstani enterprises engaged in exports to China.

This transaction marks the first-ever RMB-denominated bond issued by a Central Asian issuer. It is also the largest issuance in RMB in the CIS countries so far.

The bonds have been admitted to trading on both the Hong Kong Stock Exchange and the Kazakhstan Stock Exchange.

The Linklaters cross-border capital markets team was led by London-based partner Simon Few and Hong Kong SAR-based partner Terence Lau, supported by Vladimir Gogokhiya, Chaila Fraundorfer, Jiemin Zhang, and Rebecca Wilson. Niketa Sharma and Stuart Mason, from our London Corporate Trust & Agency group, represented the trustee.

Linklaters’ capital markets team continues to lead the way in advising on ground-breaking and complex transactions, including those in emerging markets.