KhanLex assists WorldBusiness Capital with its USD 15.0 million loan to Golomt Bank
KhanLex assisted US-based WorldBusiness Capital, Inc. (WBC) with the final disbursement of its USD15.0 million loan to Golomt Bank, one of Mongolia’s largest commercial banks. The disbursement will provide a funding source for Golomt to support its lending to SMEs throughout Mongolia, primarily businesses in the agribusiness sector. WBC’s loan is supported by the U.S. […]
KhanLex pick up mandate on Khan Bank IPO
KhanLex Partners have picked up a mandate to advise Khan Bank of Mongolia on IPO. Appointment of KhanLex as IPO counsel has followed enactment by the Mongolian legislature of new banking regulations earlier in 2021. In particular, under these regulations the so-called “systemic banks” of Mongolia – such as Khan Bank – must become publicly-traded […]
Proposed Amendments to the Banking Law of Mongolia May Kick-start Landmark Reforms
In August 2020 a bill proposing amendments to the 2010 Banking Act of Mongolia has been presented to the Parliament of Mongolia. If adopted, the amendments would introduce some sweeping reforms not only to the banking industry, but also to the Mongolia’s capital markets. Our summary highlights some of the key features of the proposed […]
KhanLex advises U.S. International Development Finance Corporation on a USD 5.0 million senior loan facility to a Mongolian cashmere producer
KhanLex advised the U.S. International Development Finance Corporation (DFC) on its 5.0 million senior loan facility to Goyol Cashmere LLC, a fast-growing cashmere producer of Mongolia. The loan will help Goyol Cashmere LLC to construct a new factory and to purchase additional equipment in order to expand its production. Parts of the loan proceeds will […]
KhanLex advises European Bank for Reconstruction and Development on a loan facility to VisionFund Mongolian NBFI
KhanLex advised European Bank for Reconstruction and Development on its loan to VisionFund Mongolia NBFI LLC. The loan will support VisionFund Mongolia to offer financing to MSMEs in Mongolia. VisionFund Mongolia is a microfinance institution working with low income clients living in vulnerable and rural communities of Mongolia by offering financial and livelihood solutions. The […]
KhanLex advises U.S. International Development Finance Corporation on a senior loan facility to a Mongolian financial institution
KhanLex advised the U.S. International Development Finance Corporation (DFC) on its senior loan facility to Gobi Finance NBFI LLC (Gobi Finance), one of the largest non-banking financial institutions of Mongolia. The loan will help Gobi Finance to expand its current micro and SME portfolio. The loan is expected to have a developmental impact on Mongolia […]
Amendments to Renewable Energy Act of Mongolia introduce caps on feed-in tariffs as and competitive procurement of renewable energy
On 6 June 2019 the Mongolian Parliament has passed amendments to the Renewable Energy Act of Mongolia. These amendments have come into force immediately – on 6 June 2019. The attached advisory highlights some of the key features of the amendments. Please click here to read more
KhanLex issues recommendations to improve Mongolia’s legislation for NPL resolution
KhanLex has published a report – “Mongolia: Strengthening the Legal Framework for Non-Performing Loans Resolution and Debt Restructuring – Gaps in Mongolian laws”. The report was commissioned by EBRD’s Legal Transition team and contains in-depth review of key existing laws governing resolution of non-performing loans in Mongolia. The report identifies gaps and recommendations for necessary […]
KhanLex advises on a USD 10,0 million credit to a Canadian-listed Prophecy Coal
KhanLex advised Waterton Global Value on its USD 10 million loan facility to Prophecy Coal Corp. The funds will be used by Prophecy Coal to complete the purchase of the large Tugalgatai coal resource in Mongolia. Prophecy Coal Corp. is a Canadian listed company engaged in developing energy projects in Mongolia. Heenan Blaikie acted as […]
