KhanLex advised Asian Development Bank on its USD 40 million credit line to Khan Bank LLC to fund loans to micro, small and medium enterprises in Mongolia.
Khan Bank is Mongolia’s largest bank in terms of total assets, loans and deposits.
This is the second loan facility by ADB to a Mongolian commercial bank.
“We’re delighted to have worked with ADB, as a local counsel, on this successful transaction” said Enkhbat Batsukh, a KhanLex partner, who led the KhanLex team on this deal. “We are also pleased to have been able to support Khan Bank on this transaction which will diversify its long-term funding and to boost its competitiveness in the Mongolian market.” Enkhbat was supported by Batjargal Gombosuren, colleague and partner at KhanLex, on this transaction.
Paine Stevens acted as the lead international counsel of EBRD.
Link to the further news on this transaction
N.B.: Enkhbat Batsukh led the above work while being a partner with the merged firm “MDS KhanLex LLP” (now de-merged). In 2018, Enkhbat Batsukh together with Batjargal Gombosuren who advised on the above transaction, have relaunched their pre-merger firm “KhanLex Partners LLP”.