Mayer Brown JSM has assisted the Development Bank of Mongolia (DBM) in the launch of its Euro Medium Term Note (EMTN) programme worth $600 million.

The newly established DBM is a policy bank created by the Mongolian government to foster economic and infrastructure development, and this EMTN programme is unconditionally and irrevocably guaranteed by the Mongolian Ministry of Finance.

ING was the global coordinator on the transaction while Deutsche Bank, HSBC and ING were the joint arrangers and dealers of the programme.

Mayer Brown JSM, together with Mongolian counsel ARLEX Consulting Services acted for the DBM, while Allen & Overy and Mongolia’s GTs Advocates represented the dealers.

"We are honoured to have been involved in this milestone transaction for DBM," said Mayer Brown’s Jason T. Elder, the lead partner in this deal, in a statement.

"Mayer Brown JSM is committed to supporting Mongolia's macroeconomic development and government objectives. We remain excited about the future prospects and opportunities in Mongolia, and this transaction represents further evidence of the economy's growth.” ALB

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