KhanLex advised European Bank for Reconstruction and Development on its US$ 40 million loan to XacBank LLC.
The loan will support XacBank to provide much-needed finance to private micro, small and medium-sized enterprises across Mongolia.
The loan is syndicated and is split between US$ 10 million A loan provided by EBRD from its own account and US$ 30 million B loan provided by a syndicate of lenders consisting of TRANSKAPITALBANK, IIV-Mikrofinanzfonds, BANK IM BISTUM ESSEN EG, and responsAbility SICAV (Lux) (acting for its sub-funds responsAbility SICAV (Lux) Mikro- und KMU-Finanz-Fonds, responsAbility Sicav (Lux) Micro and SME Finance Leaders, and responsAbility SICAV (Lux) Financial Inclusion Fund).
XacBank is one of the largest commercial banks in Mongolia and a market leader of MSME financing solutions.
The KhanLex team on this deal was led by Enkhbat Batsukh, Partner. Enkhbat was assisted by senior associate Uchralbayar Iderkhangai on this transaction.
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 Uchralbayar Iderkhangai, another former lawyer of “MDS KhanLex” who advised on the above transaction, have relaunched their pre-merger firm “KhanLex Partners LLP”.