Yuriy Maltsev has overseen the practice of White & Case in Kazakhstan since 1995. He concentrated on major transactions including largest privatizations, banking loans, international securities offerings and merges and acquisitions.

His experience includes:

Capital Markets

• Since representing the Republic of Kazakhstan in it's debut offering in 1996, he has been at the forefront of the development of this market. Being involved in debut DCM deal for every bank to have come to market, he also advised on:
• the $4.4 billion financing of the Tengizchevroil project, which involved not only a limited recourse bond issue but also a pari passu partner loan financing. The bond issue was named the Emerging Europe Corporate Bond Deal of the Year by Euromoney;
• the first bank IPO (Kazkommertbank’s $845 million GDR offering), which pioneered the structures used for subsequent offerings;
• the then largest corporate IPO (KazMunaiGas E&P's $2.03 billion offering of local shares and GDRs), which was the first Kazakh privatisation using the international capital markets;
• the first hybrid capital deal from the region (Kazkommertbank’s $100 million Tier 1 hybrid capital note offering), which we documented contemporaneously with the adoption of the relevant regulations; we have subsequently worked on the majority of regulatory capital deals from the sector to date, using a variety of innovative structures.

Bank Finance

• As in capital markets practice, he has been heavily involved in the external funding of the banking sector through the syndicated loan market and have acted for the lenders on virtually all the syndicated loans borrowed by Kazakh banks. He has also been active in syndicated and bilateral lending to other borrowers and in the area of trade finance. Major transactions in the bank finance sector include:
• the $1 billion syndicated loan to Kazkommertzbank;
• the $300 million syndicated loan to Lavion secured on commodities for MLAs, ABN AMRO and ING;
• the $40 million subordinated Tier II capital loan to Bank CenterCredit.

Securitisation

• the first Kazakhstan securitisation (Halyk Bank’s $100 million future flow offering), which required us to consider for the first time the complex issues in the area; this was named Emerging Europe Securitisation Deal of the Year by Euromoney;
• the first listed future flow securitisation of diversified payment rights (Kazkommertsbank’s $300 million Floating Rate Note issue), which was also the first emerging market securitization with a "AAA" tranche;
• Alliance Bank's securitisation of diversified payment rights guaranteed by the Asian Development Bank, which was the first future flow DPR securitisation to be guaranteed by a multilateral development bank.

M&A and Privatisation

• Acquisition of Almaty Tobacco Company by Philip Morris is in the first large scale privatization in Kazakhstan;
• the privatisation of Shymkent refinery and its subsequent acquisition by Hurricane Hydrocarbons (subsequently Petrokazakhstan) for approximately US$1 billion. The merged entity was the first vertically integrated oil company in Kazakhstan;
• the sale of ATF Bank to UniCredit for $2.3 billion, the first major foreign investment in the sector;
• the sale of Bank CenterCredit to Kookmin Bank for $634 million, the latest major foreign investment in the sector;
• Kazakhmys Plc's $260 million offer to purchase Eurasia Gold, a TSE-listed Canadian gold mining company;
• the leveraged buyout of a significant minority stake in Kazakhtelecom (the first LBO in Kazakhstan).

Mr. Maltsev has been involved in the drafting of numerous laws, edicts and decrees.  He was a member of the working committee that drafted the 1993 Constitution for the Republic of Kazakhstan, receiving a Diploma of Honour from the President of Kazakhstan for his efforts.  As Deputy Director of the Supreme Soviet Legal Department from 1991 to 1993, he reviewed, commented and advised on all new legislation, including foreign investment laws, company laws, constitutional laws and others. In 1992, he served as a member of the European Commission Joint Task Force for Law Reform in the CIS.

Mr. Maltsev has contributed to several books and has published a number of scholarly articles in the CIS and abroad, including an article on "Development of Corporate Law in the Former Soviet Republics," published in The International and Comparative Law Quarterly.