12 Jan MDS & KhanLex advises EBRD on a EUR 10 million senior loan facility to Mongolian car dealer (Jan 2015)
MDS & KhanLex advised European Bank for Reconstruction and Development on its EUR 10 million senior loan facility to Tavan Bogd LLC.
The EBRD loan of 23.4 billion tugrik (equivalent of €10 million) will help Tavan Bogd to finance the construction of a state-of-the-art Toyota repair and maintenance center and expand its new car distribution and sales business.
The borrower is part of Tavan Bogd Group, a large Mongolian group with business interests ranging from consumer goods to financial services to export-import trade.
“We’re happy to support EBRD in its development of local currency financing in Mongolia by providing a loan in MNT (Mongolian currency)” said Commercial partner Enkhbat B. who led on this deal. “We’re also pleased to have been able to support Tavan Bogd and its parent, Tavan Bogd Group, one of the largest Mongolian conglomerates, on this transaction which will boost its competiveness in the Mongolian car dealing market.” The MDS & KhanLex team also included associates Munkhzul A. and Uchralbayar I.