Proposed Amendments to the Banking Law of Mongolia May Kick-start Landmark Reforms

In August 2020 a bill proposing amendments to the 2010 Banking Act of Mongolia has been presented to the Parliament of Mongolia. If adopted, the amendments would introduce some sweeping reforms not only to the banking industry, but also to the Mongolia’s capital markets. Our summary highlights some of the key features of the proposed […]

KhanLex advises “Frankfurt School Financial Services” Gmbh on a USD 4.8 million Senior Loan Facility to the Largest Commercial Bank of Mongolia

KhanLex has advised “Frankfurt School Financial Services” Gmbh, an asset management firm for development projects, on its USD 4.8 million loan to KhanBank LLC, Mongolia’s largest commercial bank. The loan will support expansion of KhanBank’s financing to private micro, small and medium-sized enterprises across Mongolia.The loan also blends USD 20.0 million of BlueOrchard, a leading […]

KhanLex advises European Bank for Reconstruction and Development on a US$ 4 million loan facility to the largest financial leasing company of Mongolia

KhanLex advised European Bank for Reconstruction and Development on its US$ 4 million loan to XacLeasing LLC. The loan also blends US$ 1 million of GCF concessional finance. The loan will allow XacLeasing to offer leases to MSMEs for investments in high-performing technologies that improve the use of energy and water resources. XacLeasing LLC is […]

KhanLex advises U.S. International Development Finance Corporation on a USD 5.0 million senior loan facility to a Mongolian cashmere producer

KhanLex advised the U.S. International Development Finance Corporation (DFC) on its 5.0 million senior loan facility to Goyol Cashmere LLC, a fast-growing cashmere producer of Mongolia. The loan will help Goyol Cashmere LLC to construct a new factory and to purchase additional equipment in order to expand its production. Parts of the loan proceeds will […]

KhanLex advises Asian Development Bank on a US$ 30 million loan facility to Xac Bank

KhanLex advised Asian Development Bank on its US$ 30 million loan to XacBank LLC. The loan will support expansion of XacBank’s financing to micro, small, and medium-sized enterprises in Mongolia, focusing on those owned by women and located outside Ulaanbaatar. XacBank is one of the largest commercial banks in Mongolia and a market leader of […]

KhanLex advises European Bank for Reconstruction and Development on a MNT 3,0 billion senior loan facility to the largest microfinance institution of Mongolia

KhanLex advised European Bank for Reconstruction and Development on its MNT 3,0 billion senior loan facility to the largest microfinance institution in Mongolia – Transcapital NBFI LLC. Transcapital, one of the first and most reputable microfinance institutions in the country, has been an EBRD client since 2013. The loan is the fourth loan by EBRD […]

KhanLex advises European Bank for Reconstruction and Development on a USD 5.0 million convertible loan to the dual-listed Erdene Resource Development Corporation

KhanLex advised European Bank for Reconstruction and Development on its USD 5.0 million convertible loan to Erdene Resource Development Corporation (Erdene).The loan will help complete a pre-feasibility study, carry out an environmental and social impact assessment and obtain the licenses and permits necessary to advance the Khundii Gold project, the flagship asset of Erdene in […]