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KhanLex advises European Bank for Reconstruction and Development on a USD 6 million senior loan facility to Mongolian retailer

KhanLex advised European Bank for Reconstruction and Development on its senior debt facility to Khanburgedei LLC.

The facility will consist of (i) a USD 6 million loan to refinance Khanburgedei’s existing debt from a local commercial bank in Mongolia and (ii) a local currency-denominated loan equivalent of USD 1.5 million for working capital needs of Khanburgedei.

EBRD provides this debt under its Direct Financing Framework SME programme which allows EBRD to offer finance directly to small and medium-sized enterprises in Mongolia and other countries of EBRD operations for projects of up to EUR 25 million. The debt will be complemented by EBRD’s support via its International Advisory Programme to enhance Khanburgedei’s operational structure, HR management, supply chain management and marketing strategy

Khanburgedei is one of the largest Mongolian private company engaged in retail, distribution and trading of apparel and foods.

We’re happy to yet again support EBRD in its development of local currency financing in Mongolia by providing a loan in MNT (Mongolian currency) to Khanburgedei LLC” said Enkhbat Batsukh, partner, who led the KhanLex team on this deal.

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 has relaunched, with others, the pre-merger firm “KhanLex Partners LLP”.

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