Pavel Kornilov is a Counsel in Almaty office. He is recognised as a top-tier capital markets and debt finance lawyer with broad experience in banking, debt finance and equity and debt capital markets matters.

Pavel also has in-depth expertise in structured products, liability management, synthetic securitisations, credit and equity derivatives, financial regulatory and corporate advice.  

Pavel has provided an excellent service and advice to our clients on Kazakhstan law issues. He has extensive experience in his field.

Chambers Asia-Pacific, 2025

RECENT ENGAGEMENTS INCLUDE ADVISING

CAPITAL MARKETS

• KAZTRANSOIL JSC on People’s IPO program on the Initial Public Offering of the company on the Kazakhstan Stock Exchange
• CITIGROUP GLOBAL MARKETS LIMITED, SOCIÉTÉ GÉNÉRALE, FIRST HEARTLAND SECURITIES JSC and UBS AG LONDON BRANCH, as joint lead managers, on the update of an USD 10 billion Medium Term Notes Programme for Kazakhstan and a series of offerings of EUR 500 million 0.60% Notes due in 2026 and EUR 650 million 1.50% Notes due in 2034 by the Ministry of Finance of the Republic of Kazakhstan in a total amount of USD 1.2 billion. The Notes were issued in accordance with Regulation S and Rule 144A
• CITIGROUP GLOBAL MARKETS LIMITED, P. MORGAN SECURITIES PLC and HSBC BANKPLC, as lead managers, on the establishment of the Republic of Kazakhstan's USD 10 billion Medium Term Note (MTN) Programme and a subsequent issue of aggregate USD 4 billion Notes due in 2024 and in 2044; the further update of the MTN Programme and the issuance thereunder of EUR 525 million 1.55% Notes due in 2023 and EUR 525 million 2.375% Notes due in 2028; and on a series of offerings in a total amount of USD 1.2 billion
• CITIGROUP, SOCIÉTÉ GÉNÉRALE and BCC INVEST on the update of the Republic of Kazakhstan's USD 10 billion global medium term note programme and issuance of EUR 525 million 1.55% Notes due in 2023 and EUR 525 million 2.375% Notes due in 2028

PROJECTS & iNFRASTRUCTURE

• KAZAKHSTAN PETROCHEMICAL INDUSTRIES (KPI) on the development, construction, and financing of a USD 2 billion petrochemical complex in the Atyrau region of Kazakhstan. China Development Bank Corporation Xinjiang Branch provided the financing for the project.
• KLPE and THE SPONSORS on the US$4 billion development and financing of a petrochemical facility in Atyrau, Kazakhstan
• KAZAKHMYS on the construction of the underground mine Zhomart-2 in the Zheskazgan region of Kazakhstan by Kazakhmys Corporation
• A MAJOR KAZAKHSTAN PETROCHEMICAL COMPANY on the design, engineering and construction of an integrated petrochemical and gas-chemical complex in Karabatan, in Western Kazakhstan

M&A AND CORPORATE

• FORTEBANK on the sale of KassNova Bank to Freedom Finance
• EURASIAN BANK on the acquisition of 100% of voting shares in BankPozitif Kazakhstan. Legal advice included deal structuring, legal due diligence, drafting the sale-purchase agreement and assistance with the closure of the transaction
• SAMRUK-KAZYNA on the acquisition of a controlling stake in Alliance Bank
• EURASIAN BANK on the acquisition of ProstoCredit Bank
• ALLIANCE BANK JSC on legal issues related to a potential consolidation with a Kazakh bank
• NOSTRUM OIL & GAS on a group reorganisation, including the acquisition of the business of Nostrum Oil & Gas LP, an independent oil and gas exploration and production business with assets in Kazakhstan

EDUCATION

• 2005: University of Westminster, London, UK, Master's Degree in Law
• 2003: Adilet Higher Law School, Almaty, Kazakhstan, Bachelor's Degree in Law

PROFESSIONAL AFFILIATION

Kazakhstan Bar Association

LANGUAGES

Russian, English