Dmitry Dembich

Moscow Branch of Baker & McKenzie CIS, Limited


Dmitry Dembich is a partner in Baker McKenzie’s Banking & Finance Practice Group in Moscow. Prior to joining the Firm in 2011, he worked as a senior associate at Clifford Chance.

Practice Focus

Mr. Dembich focuses his practice on capital markets and derivative instruments transactions. He has advised on numerous initial and follow-on equity public offerings, standalone Eurobonds issues, MTN programs, and issues of subordinated loan participation notes. Mr. Dembich also has significant experience representing issuers and underwriters in equity offerings, as well as borrowers and lead managers in debt offerings by Russian companies.

Representative Legal Matters

  • Advised UBS and Commerzbank as the lead managers on an offering of EUR350 million 5.5 percent Eurobonds due in 2017 to be issued by Alfa Holding Issuance to finance a loan to ABH Financial Limited.
  • Advised Vneshprombank on debut and tap offerings (all pursuant to Regulation S) of USD225 million 9 percent loan participation notes by VPB Finance to finance a loan to Vneshprombank. The LPNs were listed on the Irish Stock Exchange.
  • Advised Home Credit and Finance Bank on an update of its USD2.5 billion loan participation note program and an offering of USD200 million 10.5 percent callable LPNs due 2021.
  • Advised Eurasian Development Bank on its offering of USD500 million 5 percent Eurobonds due 2020 under its USD3.5 billion EMTN program and intermediated cash tender offer for its outstanding USD500 million 7.375 percent notes due 2014.
  • Advised the Agency for Housing Mortgage Lending on its debut offering of RUB15 billion 7.75 percent Eurobonds due 2018.
  • Advised joint lead managers in connection with a depository receipts offering by NefteTransService, a Russian transportation company. The depository receipts were to trade on the Main Market of the London Stock Exchange.


  • Russia (2004)