LONDON, June 5, 2025: Morgan Lewis served as English and US legal adviser to the Kyrgyz Republic (Kyrgyzstan) on a $700 million sovereign bond offering. The transaction is Kyrgyzstan’s first ever sovereign bond offering.
The transaction consisted of the establishment of a $1.7 billion multicurrency global medium-term note program, and an offering of $700 million 7.75% notes due 2030 as the first series issued under the program. The offering was made pursuant to Rule 144A and Regulation S, and the notes are listed on the London Stock Exchange and the Hong Kong Stock Exchange. The net proceeds of the issue of the notes will be used by Kyrgyzstan for general budgetary purposes, including financing hydroelectric power projects and other infrastructure projects.
The global medium-term note program was established on May 22, 2025 and the issuance of the notes closed on June 3, 2025.
Morgan Lewis partner Carter Brod advised Kyrgyzstan, along with associates Yaroslav Smorodin and Hazem Nakib.