KhanLex advised European Bank for Reconstruction and Development on its MNT-denominated loan tugrik – equivalent to US$ 3 million – to XacLeasing LLC.
The loan will allow XacLeasing to on-lend these funds to SMEs for investments in machinery, commercial vehicles and medical appliances. The financing which is denominated in MNT will also help reduce foreign currency risk.
XacLeasing LLC is one of Mongolia’s largest financial leasing companies and has been a long-standing client of EBRD.
“We are pleased to continue assisting EBRD in Mongolia.” said Enkhbat Batsukh, Partner, who led the KhanLex team on this deal. Enkhbat was assisted by senior associate Uchralbayar Iderkhangai 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 Uchralbayar Iderkhangai, another former lawyer of “MDS KhanLex” who advised on the above transaction, have relaunched their pre-merger firm “KhanLex Partners LLP”.