KhanLex advised European Bank for Reconstruction and Development on its USD 65 million loan facility to Senj Sant LLC (presently, Moncement Building Materials LLC). The loan will enable Senj Sant, owned by Monpolymet Group, to build and operate a technologically advanced and environmentally friendly dry process cement plant in Mongolia.
The equity project represents phase 1 of the cement plant development with an envisaged future total capacity of about 1 million tonnes of cement per year. Phase 1 will be followed a loan of up to US$ 130 million. Half of the loan will be syndicated to other lenders.
“We’re happy to have assisted EBRD, as a local counsel, with this transaction” said Commercial partner Enkhbat B. who led the KhanLex team on this deal. “We are also pleased to have been able to support Senj Sant and its parent, Monpolymet, on this transaction which will be a significant project in the diversification of Mongolia’s economic away from natural resources.” Enkhbat was supported by partners and colleagues – Batjargal Gombosuren and Uchralbayar Iderkhangai – on this transaction.
Linklaters acted as the lead international counsel of EBRD.