3 July, 2015

Shearman & Sterling represented the Government of Mongolia in connection with the update of its USD 5bn Global Medium Term Note Program and its Regulation S offering of CNY 1bn 7.50% notes due 2018 under the Program. The bonds will list in Singapore.

This is the first dim sum bond from a non-Chinese Asian sovereign and the first high-yield dim sum bond from a sovereign globally.

The core Shearman & Sterling team included partner Matthew Bersani.

The firm previously advised the Government of Mongolia in its debut sovereign bond issuance in December 2012. The Government of Mongolia issued Series A USD 500m 4.125% notes due 2018 and Series B USD 1bn 5.125% notes due 2022 as part of its USD 5bn Global Medium Term Note Program.

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