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 Enkhbat Batsukh, partner, who led the KhanLex team 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 competitiveness in the Mongolian car dealing market.” Enkhbat was supported by Batjargal Gombosuren, colleague and partner at KhanLex, 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”.