Mayer Brown JSM has advised the Development Bank of Mongolia (DBM) and the Mongolian Ministry of Finance on the issuance of $580 million senior guaranteed bonds. The notes have full backing from the Ministry of Finance.

“This transaction sets the foundation to fund domestic infrastructure investment and represents a milestone in our firm’s broad footprint in Mongolia,” said Jason Elder, the corporate partner who led Mayer Brown’s team in Hong Kong.

Mayer Brown JSM has worked with the DBM before, advising the bank on the launch of its $600 million Euro Medium Term Note Programme in December, 2011.

“Our firm appreciates the opportunity to represent DBM and the Government of Mongolia with this important transaction, which marks yet another step in our institutional commitment to Mongolia,” said Elder in a statement. “We believe that DBM will be a key channel for international capital flows into Mongolia, and a catalyst for Mongolia’s expected growth in the next decade.”

Mayer Brown JSM and ARLEX Consulting Services represented the DBM, while Allen & Overy and Mongolian firm GTs Advocates acted for the dealers