Practice Experience
Pavel Kornilov specializes in banking and financial markets transactions (including structured products, synthetic securitizations, credit and equity derivatives), financial regulatory and corporate advice, mergers and acquisitions.
Examples of major representations include:
Banking transactions
- 2009 – 2010 Representing JSC BTA Bank in its financial restructuring.
- 2009 – 2010 Representing JSC Alliance Bank in its financial restructuring.
- 2008 – 2009 Representing JSC "National Welfare Fund "Samruk-Kazyna" in acquisition of controlling stake of JSC "Alliance Bank".
- 2010 Representing a major shareholder of JSC Home Credit Bank in connection with restructuring of JSC Home Credit Bank.
Capital markets transactions
- December 2010 – February 2011 Representing dealers in connection with the update by JSC Development Bank of Kazakhstan of its U.S.$2,000,000,000 medium term note programme and the issue of the U.S.$500,000,000 (December 2010) and the U.S.$277,000,000 (February 2011) principal amount 5.50 per cent Notes due 2015.
- 2010 Representing dealers in connection with the establishment of the U.S.$2,000,000,000 debt issuance programme of JSC Kazkommertsbank.
- November 2010 Representing joint lead managers in the update of the U.S.$7,500,000,000 global medium term note programme of KazMunaiGaz Finance Sub B.V. and JSC National Company KazMunayGas and the issue by JSC National Company KazMunayGas of the U.S.$1,250,000,000 principal amount 6.375 per cent. notes due 2021.
- 2010 Representing managers in connection with the issue by Kazakhstan Temir Zholy Finance B.V. of U.S.$700,000,000 6.375 per cent. notes due 2020 guaranteed by JSC National Company Kazakhstan Temir Zholy, JSC Kaztemirtrans and JSC Locomotive.
- April 2010 Representing joint lead managers in the update of global medium term note programme from U.S.$ 5 billion to U.S.$ 7.5 billion issued by KazMunaiGas Finance Sub B.V. and guaranteed by JSC National Company KazMunaiGas.
- 2009 Representing joint lead managers in the update of global medium term note programme from U.S.$ 3 billion to U.S.$ 5 billion issued by KazMunaiGas Finance Sub B.V. and guaranteed by JSC National Company KazMunaiGas.
- 2008 Representing joint lead managers in debut U.S.$ 3 billion notes offering issued by KazMunaiGas Finance Sub B.V. and guaranteed by JSC National Company KazMunaiGas.
- 2010 Representing HSBC Bank plc acting as a solicitation agent in connection with the substitution of NurFinance B.V. by JSC Nurbank under the U.S.$150,000,000 9.375 per cent. notes due 2011.
- 2010 Representing JSC Kazkommertsbank in substitution of Kazkommerts International B.V. by JSC Kazkommertsbank under (i) the standalone issue of U.S.$ 350 million 8.5% notes due 2013 (April 2003) supplemented by a further issue of U.S.$ 150 million 8.5% notes (May 2003) that form a single series issued by Kazkommerts International B.V. and guaranteed by JSC Kazkommertsbank, (ii) all issuances of notes under the 2005 programme issued by Kazkommerts International B.V. and guaranteed by JSC Kazkommertsbank, and (iii) all issuances of notes under the 2007 Programme issued by Kazkommerts International B.V. and guaranteed by JSC Kazkommertsbank.
- 2009 – 2010 Representing Credit Suisse in connection an amendment and restatement of a U.S. $50 million facility agreement executed with, among others, JSC KazTransGas and JSC Intergas Central Asia.
- 2009 Representing Credit Suisse in connection with amendment of a 2007 term facility agreement for the amount up to U.S.$ 100 million executed with JSC Kazakhstan Mortgage Company.
- 2009 Representing BNP Paribas in connection a multisource framework agreement up to for the amount up to EUR 200 million executed with JSC Development Bank of Kazakhstan.
Derivative transactions
- 2008 – 2010 Regulatory advice to Societe Generale, ING, RBS, Natixis, Morgan Stanley, JP Morgan, Deutsche Bank, Goldman Sachs, Barclays Capital, Nomura, JSC Kazkommertsbank and others on capacity of Kazakhstan entities to enter into various derivative transactions / purchase derivative securities (2008 – 2010).
- 2009 – 2010 Developing a local derivative documentation (ISDA analog) for HSBC Kazakhstan (ongoing).
Others
- 2010 Representing Fortis Bank on the matters related to security package (grain receipts) it received under a 2007 term facility agreement.
- 2008 – 2009 Representing a major Bahraini financial institution in connection with a project finance transaction for building an energy city in Western Kazakhstan.
In addition to his corporate work and work in banking and securities, Pavel is an experienced speaker and has authored numerous in-house financial publications.
Education
LLM, The University of Westminster, London, UK, 2005 LLB (Hons), Adilet Higher Law School, Almaty, Kazakhstan, 2003
Publications and Speeches
"New Restructuring Law: Corporate Rescue for Crisis-Hit Banks" in International Law Office (www.internationallawoffice.com), 20 November 2009. This article was also published by the Word Securities Law Report
"Tread Warily Following Restructuring of Financial Instruments Legislation" in International Law Office (www.internationallawoffice.com), 22 April 2009. This article was also published by the Word Securities Law Report
"New RFCA Listing Rules" in International Law Office (www.internationallawoffice.com), 29 July 2008. This article was also published by the Word Securities Law Report
"Restructuring of Kazakhstan Banks" speech at the Forum of Issuers, Almaty, October 2009
"Arbitration of Kazakhstan Investment Disputes: Domestic and International Perspectives Part 1 - "Kazakhstan National Legislation and Investment Arbitration: the Issue of Arbitrability"' in Scientific works "Adilet" («Научные труды «Адилет») # 2(18) 2005 pp. 141 – 151)
"Arbitration of Kazakhstan Investment Disputes: Domestic and International Perspectives Part 2 – "Application of the Kazakhstan National Legislation to Investment Arbitration and Investment Arbitration by virtue of IITs"' (part 2) in Scientific works "Adilet" («Научные труды «Адилет») # 2(20) 2006 pp. 190 – 202)
"Political and legal ideas of Valihanov in the programme of political party Alash' in From history of political and legal conceptions, AJ-HLS "Adilet", 2003, pp. 47 – 54, etc.
English Russian
Citizenship
Kazakhstan
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