Bolat Utebaliyev


Bolat Utebaliyev


Almaty | Dechert Kazakhstan Limited, Park View Office Tower, 77 Kunaev Street, Almaty, Kazakhstan 050000
+7 727 258 5032 | +7 727 258 8084

Moscow | Dechert Russia LLC, ul. Gasheka 7 str. 1, Moscow, Россия 123056
+7 499 922 11 00 | +7 499 922 11 11


Bolat Utebaliyev focuses his practice on mergers and acquisitions, oil & gas, EPC contract and corporate matters. Mr. Utebaliyev has also participated in several due diligences in a variety of sectors.

Mr. Utebaliyev is noted in The Legal 500 EMEA, 2020 for his commercial, corporate and M&A capabilities as well as his banking, finance and capital markets experience. He was previously highlighted in The Legal 500 EMEA, 2019 for his banking, finance and capital markets work in Kazakhstan.  

Prior to joining Dechert, Mr. Utebaliyev gained legal experience working as a clerk in the business and finance practice of another international law firm.

Eurobond Issuances

  • JSC National Company KazMunayGas (KMG) on its invitation to holders of KMG’s outstanding: (i) US$1.5 billion 7.000% Notes due 2020; (ii) US$1.25 billion 6.375% Notes due 2021; (iii) US$500 million 4.875% Notes due 2025; and (iv) US$2 billion 5.750% Notes due 2043 to tender any or all of such Notes held by the Holder for purchase by KMG for cash and concurrently to consent to amend, by extraordinary resolution of the Holders to provide for mandatory early redemption of the Notes by KMG.
  • KMG on its issuance of US$3.25 billion Eurobonds under the US$10.5 billion Global Medium Term Notes Programme.
  • KMG on its issuance of US$2.75 billion Eurobonds under the US$10.5 billion Global Medium Term Notes Programme.
  • KMG in connection with its offer to purchase up to US$3.4 billion of its outstanding debt securities.
  • JSC National Company Kazakhstan Temir Zholy in connection with its issuance of US$780 million 4.850% Notes due 2027 and its simultaneous consent solicitation (including the insertion of a mandatory redemption provision) and tender offer in respect of its US$700 million 6.375% Notes due 2020.
  • JSC Development Bank of Kazakhstan on the issuance of its KZT 100 billion 8.95% Notes due 2023 issued as Series 8 under the US$3 billion Medium Term Note Programme.
  • JSC Development Bank of Kazakhstan in connection with its issuance of its KZT 100 billion 9.5% Notes due 2020.

Corporate and M&A

  • A Chinese client on two due diligences of Kazakhstan oil & gas companies.
  • A CNPC subsidiary in Kyrgyzstan on the preparation of model services contracts.
  • EBRD in relation to its equity investment in Central-Asian Electric Power Corporation (CAEPCO), and most recently in relation to EBRD’s exit from CAEPCO. 
  • EBRD on its US$15 million loan to Ramstore, one of the biggest shopping malls in Almaty, to redesign and refurbish its large building in the city center.  The assignment included due diligence of Ramstore and subsequent drafting of the transaction documentation. 
  • An international company on its due diligence and subsequent transaction documentation drafting for the acquisition of two Kazakhstan oil & gas companies.
  • Kazakhtelecom JSC on its merger of Kazakhstan mobile assets with Tele2 AB (Sweden).
  • Stewart Engineers, Inc. on its US$197 million joint venture, engineering, procurement and construction contract and project finance negotiations for the construction and operation of the first float glass production facility in Kazakhstan.
  • The owners of Tarbagatay Munay LLP on their agreements with Xinjiang Guanghui Industry Co. Ltd, including an oilfield development project, construction of a cross-border pipeline and development of an LNG processing facility in China.
  • Tyson Foods on an investment in a greenfield beef processing plant and on a joint venture agreement in connection therewith. 
  • VEB-Leasing, one of the largest leasing companies in Russia, in connection with series of financial leasing transactions in Kazakhstan.
  • University of St. Andrews, 2009
  • The University of Hull, LL.B. (Hons), 2012
  • Caspian Social University, LL.B., 2016
  • Kazakhstan
  • English
  • Russian
  • Kazakh