16 August 2011
Hong Kong – Mayer Brown JSM is pleased to announce that it advised XacBank LLC, one of Mongolia’s leading commercial banks and the pre-eminent provider of microfinance and community lending services in Mongolia, in connection with the establishment of its US$300 million Euro Medium Term Note Programme.
This transaction represents a significant step for XacBank, offers the potential for the bank to expand its funding sources, and is further evidence of the continued evolution of Mongolia's capital markets. ING Bank N.V. and UBS AG acted as the joint bookrunners on the transaction.
"Mayer Brown JSM is delighted to have been selected to advise XacBank on this transaction and to be involved in Mongolia’s continued development," said Jason T. Elder, a partner of Mayer Brown LLP based in the Hong Kong office.
"Mongolian issuers are growing and recognise the benefits of accessing international markets for their capital raising needs. We hope to continue to play a part in this trend over the long term and are excited about the future prospects for Mongolia."
The Mayer Brown JSM team was led by Jason T. Elder.