We advised the placement agent on the high-yield private placement

Davis Polk advised the placement agent in connection with a private placement by State Bank JSC of its $100 million 8.90% senior notes due 2028 (to be consolidated and form a single series with the $200 million 8.90% senior notes due 2028 issued on September 25, 2025).

State Bank JSC the only state-owned commercial bank in Mongolia, and it is also one of the five domestic systemically important banks (D-SIB) as designated by the Bank of Mongolia. It offers a wide range of banking services with an emphasis on retail banking. State Bank JSC is listed on the Mongolian Stock Exchange.

The Davis Polk corporate team included partner James C. Lin, counsel Bingqing Pan and registered foreign lawyer Anlei Zuo. All members of the Davis Polk team are based in the Hong Kong office.

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