17 November 2010, Hong Kong – Mayer Brown, a leading global law firm, is pleased to announce that it advised Trade & Development Bank of Mongolia LLC (TDB) in connection with the update of TDB's existing US$300 million Euro Medium Term Note Programme and issuance of US$150 million senior notes and US$25 million subordinated notes.
This milestone transaction represents Mongolia's largest international capital markets debt transaction, the second time TDB has accessed the international debt market and the first ever subordinated issue from Mongolia. ING Bank N.V. acted as the sole bookrunner.
"Mayer Brown is honoured to have been selected to advise TDB on such an important corporate finance transaction," said Jason T. Elder, a partner of Mayer Brown LLP based in the Hong Kong office. "TDB's transaction represents a milestone deal for the bank as well as a significant step forward in the evolution of Mongolian issuers accessing the international debt markets. We appreciate the opportunity to support TDB and Mongolia."
TDB is a leading banking and financial services provider in Mongolia and was the country's first corporate entity to access the international capital markets with the establishment of its Euro Medium Term Note Programme and initial US$75 million senior note issuance in 2007.
The Mayer Brown team was led by Jason T. Elder.