Quasi-Sovereign & Corporate Issuances

• JSC Development Bank of Kazakhstan on all updates of, and issuances under, its Medium-Term Note Programme, including (among others): in 2025, the issuance of its U.S.$500 million 5.625% Notes due 2030, issued under its updated U.S.$5 billion Medium Term Note Programme, and its simultaneous tender offer; in 2024, the dual tranche, dual currency issuance of its U.S.$500 million 5.50% Notes due 2028 and its KZT60 billion 13.489% Notes due 2028, and its simultaneous tender offer; in 2024, the dual tranche, dual currency issuance of its U.S.$500 million 5.50% Notes due 2027 and its KZT100 billion 13.00% Sustainable Notes due 2027, its simultaneous tender offer; in 2022, the issuance of its (i) U.S.$500 million 5.75% Notes due 2025; and (ii) its invitation to holders of its outstanding 4.125% Notes due 2022 to tender such Notes for purchase for cash up to an aggregate principal amount of U.S.$700 million; and in 2021, the issuance of its (i) KZT 100 billion 10.95% Notes due 2026 and (ii) U.S.$500 million 2.95% Notes due 2031.
• JSC National Company Kazakhstan Temir Zholy (KTZ), in connection with multiple liability management transactions and issuances, including (among others): its invitation to holders of its outstanding U.S.$1.1 billion 6.950% Notes due 2042 to tender any or all of such Notes for purchase by KTZ for cash and concurrently to consent to amend to provide for mandatory early redemption; the issuance of its CHF 80 million 3.25% Notes due 2023 ; and the issuance of its of CHF 170 million 3.25% Notes due 2023, guaranteed by Joint Stock Company “KTZ-Freight Transportation”, Joint Stock Company “Kaztemirtrans”, Joint Stock Company “Passenger Transportation”, Joint Stock Company “Suburban Transportation” and Joint Stock Company “Vagonservice”.
• KazMunaiGaz Finance Sub B.V. (KMG Finance) and JSC NC “KazMunayGas” (KMG) on multiple issuances under its U.S.$10.5 billion Global Medium Term Note Programme.
• Eastern European Electric Company B.V. in connection with its debut Eurobond issuance of its €500 million 6.50% Guaranteed Secured Notes due 2030.
• JSC Ukrainian Railways in connection with its successful consent solicitations to restructure its loan participation notes.
• The Arrangers and Dealers on the establishment of a Trust Certificate Programme and Global Medium Term Note Programme by Nama Electricity Distribution Company SAOC and the issuance of U.S.$750 million Trust Certificates due 2032.
• Sindicatum Renewable Energy Company Pte Ltd in connection with the issuance of its ₱1,060,200,000 7.4% Guaranteed Green Bonds due 2028 payable in U.S. Dollars. GuarantCo Limited acted as Guarantor and ING Bank as Sole Lead Manager and Bookrunner.

Sovereign Issuances

• The Arab Republic of Egypt in connection with issuances under its Global Medium Term Note Programme, including, in 2025, the issuance of its U.S.1.25 billion 8.625% Notes due 2030 and U.S.$750 million 9.450% Notes due 2033.
• The Kingdom on Bahrain in connection with issuances under its Global Medium Term Note Programme and Trust Certificate Programme, including, in 2025, the issuance of its U.S.$1.75 billion Trust Certificates due 2033 and U.S$750 million 7.50% Notes due 2037.
• The Republic of Albania (acting through its Ministry of Finance) in connection with standalone Eurobond issuances, including, in 2025, the issuance of its €650 million 4.75% Notes due 9 June 2028.
• The Sultanate of Oman in connection with its invitation to holders of: (i) three series of its Notes to tender such Notes for purchase by the Government; and (ii) the outstanding U.S.$2 billion 4.397% Trust Certificates due 2024 issued by Oman Sovereign Sukuk S.A.O.C. to tender any and all such Certificates for purchase by the Government for cash.