LONDON, 16 July 2025 – Baker Botts L.L.P. advised JSC Development Bank of Kazakhstan on its dual-tranche, dual currency Eurobond issuances under its US$5 Billion Medium Term Note Programme.

The transaction comprised of the issuance of US$200 million 5.625% Notes due 2030 (Series 17, Tranche 2), which will be consolidated to form a single series with the existing US$500 million 5.625% Notes due 2030 (Series 17, Tranche 1), and the issuance of KZT 55 billion 17.300% Notes due 2028 (Series 18), which are payable in US Dollars.

Both tranches are listed on the Vienna MTF and the Kazakhstan Stock Exchange. Citigroup, Société Générale Corporate & Investment Banking, and Halyk Finance acted as Joint Bookrunners.

The Baker Botts team was led by Partners Patrick Lyons and Jennifer Rees, with Senior Associate Amy Rees in London.

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.