Mayer Brown is delighted to announce that an issuance earlier this year by the Government of Mongolia, on which the firm advised, won the award for “Best Mongolia Deal” at the 2017 FinanceAsia Achievement Awards.
The firm advised the Ministry of Finance of the Government of Mongolia on its issuance of US$600 million 8.75% Notes due 2024. The transaction included an exchange offer for the US$580 million 5.75% Notes due 2017 issued by Development Bank of Mongolia LLC, as well as a new money component. It formed part of a larger debt re-profiling surrounding discussions with the International Monetary Fund in connection with its staff-level agreement to provide a three-year extended fund facility to Mongolia.
Jason T. Elder, the lead partner of the transaction, said, “I am delighted that this deal has been awarded “Best Mongolia Deal”, the second consecutive year that Mayer Brown has won this honor. This accolade and the success of the deal reflect the innovative solutions and strategic advice we provided to the Government of Mongolia, which in turn has solidified our position as a trusted and ‘go-to’ adviser on capital markets for sovereigns throughout the region.”
Mr. Elder added, “We were pleased to once again partner with the Government of Mongolia on this deal, which was a significant milestone for our client. We appreciate being tapped for this role, which came at a critical turning point for the Mongolian economy – and we are so pleased to be able to support the country’s progress as it recovers from a trough in commodities prices.”
Mayer Brown has been a long-standing partner of the Government of Mongolia, having previously provided strategic advice on its issuance of US$500 million 10.875% Notes due 2021 in 2016. The firm also advised Trade and Development Bank of Mongolia LLC on the update and the issuance of US$500 million 9.375% Notes due 2020 under its existing Global Medium-Term Note Program in 2015. Both deals won accolades at the FinanceAsia Achievement Awards, namely “Best Mongolia Deal” for the former and “High Yield Debt of the Year” for the latter.
The annual FinanceAsia Achievement Awards commend players from across the financial services industry who have been at the forefront of innovative deals and the cutting edge of change in Asia’s capital markets. The awards include company-specific prizes as well as honors to recognize excellent deals.