ULAANBAATAR, 20 APRIL 2016 – Hogan Lovells Ulaanbaatar office advised the Government of Mongolia on Mongolian law aspects of the issuance of US$500 million sovereign bonds under its US$5 billion Global Medium Term Note Program, the Government's first offering since 2012.

The issuance closed on 6 April 2016.  The notes are due in 2021 and carry a coupon of 10.875%. The joint lead managers were Credit Suisse, Deutsche Bank, ING, and JP Morgan, and local banks TDB Capital and Golomt Bank. The Government plans to use the funds raised for infrastructure and other projects.

The Hogan Lovells team was led by Ulaanbaatar-based partner Chris Melville, and debt capital market partners Sina Hekmat (New York) and Andrew Carey (London), supported by Ulaanbaatar counsel Anthony Woolley and associates Erdenedalai Odkhuu and Alimaa Erdenebat.

Mayer Brown JSM acted as international counsel to the Government.  Allen & Overy and GTs Advocates advised the joint lead managers as international and Mongolian counsel respectively.