Jurisdiction - Mongolia
Mayer Brown JSM Advises On Mongolia’s First “Dim Sum” Bond Offering.

28 January, 2014


Mayer Brown JSM today said it has advised Trade and Development Bank of Mongolia LLC (“TDB”) in connection with its issuance of CNY700m 10.00 percent Notes due 2017 pursuant to its existing US$700m Euro Medium Term Note Programme. This transaction marks the first “dim sum” bond to be issued from Mongolia, and TDB plans to use the proceeds for general lending and investment purposes. The Notes received a B1 rating from Moody’s Investor Service with a negative outlook, and were admitted to the Official List of the Singapore Exchange Securities Trading Limited.


Mayer Brown LLP partner Jason T. Elder, who led the transaction, said: “We are pleased to have acted for long-standing Firm client, Trade and Development Bank of Mongolia, on this landmark issuance.  This ground-breaking transaction represents a new step for capital markets issuers in Mongolia, and allows another segment of investors access to the Mongolian growth story.  We are pleased to have been selected to work on such a high-profile transaction for TDB, and the opportunity to enhance our extensive experience in Mongolia.”


In addition to Jason T. Elder, the advising team included partner James Taylor in London, and associates Nishrin Hussain and Chenbo Zhang.


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