Davis Polk advised Mongolian Mining Corporation as borrower in connection with its Hong Kong-law governed secured term loan facilities of up to $200 million. The facilities were guaranteed by certain subsidiaries of Mongolian Mining Corporation. BNP Paribas, Singapore Branch and Industrial and Commercial Bank of China Limited were the lead arrangers. The facilities share common collateral on a pari passu basis with existing high-yield notes issued by Mongolian Mining Corporation.
Mongolian Mining Corporation is a listed company on the Hong Kong Stock Exchange and is a leading Asian coking coal mining company engaged in the open-pit mining of coking coal at deposits in South Gobi Province, Mongolia.
The Davis Polk corporate team included partner William F. Barron, and associates Margie Chan and Jesse Gillespie. YangYang Zhai was the legal assistant on the transaction. All members of the Davis Polk team are based in the Hong Kong office.