Zan Hub advised the Government of the Republic of Kazakhstan and the arranger banks on the first ever issuance of three series of sovereign bonds denominated in Russian rubles for a total of 40 billion rubles at interest rates of 5.40%, 6.55% and 7% and maturing in 2023, 2027 and 2030, respectively.

Zan Hub together with the law firm Liniya Prava provided legal advice on all aspects of Russian and Kazakh legislation in relation to this issue.

The arrangers of the transaction were PJSC Rosbank, Gazprombank (joint-stock company), PJSC Credit Bank of Moscow and JSC First Heartland Securities.

This is the first issue of bonds denominated in Russian rubles issued by Kazakhstan. The place of listing and placement of bonds is PJSC Moscow Exchange, as well as the Astana International Stock Exchange (AIX), operating within the Astana International Financial Center.