White & Case Advises on High Profile Eastern European Transactions | White & Case LLP International Law Firm, Global Law Practice
White & Case Advises on High Profile Eastern European Transactions

White & Case Advises on High Profile Eastern European Transactions

Global law firm White & Case LLP has demonstrated its continuing strength in emerging markets with the successful closing of a number of high profile transactions in the CIS.

In the space of a week, the Firm closed transactions totalling US$4 billion in the CIS, including the first Tier II subordinated bond issue by a Russian bank following the introduction of the Central Bank of Russia's latest rules on subordinated capital adopting the Basel III requirements.

The Firm advised Barclays, BofA Merrill Lynch, Halyk Finance and Visor Capital as managers on a US$3 billion dual tranche notes issue for KazMunayGas (KMG), the national oil and gas company of Kazakhstan. The transaction involved the issue of US$2 billion 30 year 5.75 percent notes, the largest of that duration for a CEEMEA corporate to date, and the issue of US$1 billion 10 year 4.40 percent notes. These transactions followed the update of KMG's US$10.5 billion GMTN programme on which White & Case acted for the arranger and dealer banks, with the Firm advising the banks on each of the previous five transactions under the programme.

White & Case acted for HSBC, Raiffeisen Bank International and The Royal Bank of Scotland, as lead managers, and for HSBC as sole structuring adviser, in connection with the issuance of US$500 million 5.5 years subordinated Tier II Eurobonds for Credit Bank of Moscow (CBoM). The transaction was the first subordinated Eurobond issued by a Russian bank following the introduction of the Central Bank of Russia's latest rules on subordinated capital under Regulation No. 395-P dated 28.12.2012 "On the Method of Calculating the Amount, and Assessing the Adequacy of, the Capital of Credit Institutions ("Basel III")".

White & Case also acted on a US$180 million tender and US$400 million new issue for Mriya Agro Holding, a leading Ukrainian agricultural company. The Firm advised Citigroup, Credit Suisse, Goldman Sachs and Sberbank as joint lead managers and Dragon Capital and UniCredit as co-managers.

"Advising on these high profile transactions reinforces White & Case's market-leading presence in CEMEA when it comes to acting on complex and innovative transactions," said White & Case Global Capital Markets Practice leader, Stuart Matty. "We have a long history of advising on transactions of this type in the region, having acted on many 'firsts' over the years, and our ability to field a team of market-leading experts who understand how these markets operate, means that clients always turn to us."

The White & Case deal team for KMG was led by London partners Stuart Matty and Melissa Butler, supported by London based associates Richard Pogrel, James Clarke and Einat Levy, and counsel Kairat Baizakov, local partner Vilen Adjivefayev and associates Askar Zhansagimov, Nargiza Khamrayeva and Assel Nassimoldina, all based in Almaty.

The White & Case Deal team for CBoM was led by partners Stuart Matty and Doron Loewinger, supported by London associates Melanie Davies, and Chris Horte and by Moscow based counsel Dmitry Lapshin and associate Anton Kudachkin.

The White & Case deal team for Mriya Agro Holdings was led by partners Stuart Matty and Melissa Butler and supported by London associates Melanie Davies and Graeme Dickson.

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