Kosta Legal advises Citibank and other Joint Lead Managers on Aloqabank's USD 300 million inaugural Eurobond issuance

Kosta Legal acted as Uzbek legal counsel to Citibank and the other Joint Lead Managers – Mashreqbank, First Abu Dhabi Bank and Abu Dhabi Commercial Bank – in connection with the inaugural international Eurobond issuance by JSC Aloqabank in the amount of USD 300 million.

The Kosta Legal team was led by partner Shukhrat Yunusov, with support from associate Dilshodbek Orifjonov and junior associates Islombek Ismatov and Shahzoda Khusenova. White & Case acted as international counsel to the Joint Lead Managers.

The planned issuance marks Aloqabank’s debut offering on the international capital markets and represents another significant milestone in the continued development of Uzbekistan’s banking and capital markets sector. The transaction was issued under a Reg S format with a five-year maturity.

Kosta Legal advised on Uzbek law aspects of the transaction, including regulatory matters, transaction structuring and transaction documentation.

We are grateful to the Joint Lead Managers for the opportunity to support them on this landmark transaction and appreciate the trust placed in our team throughout the process.