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 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 […]