Mongolian Mining's USD 100 Million cash tender offer

Davis Polk advised Mongolian Mining Corporation (MMC) and Energy Resources LLC (ER), an indirect wholly owned subsidiary of MMC, in connection with a cash tender offer by ER to purchase up to USD 100 million in aggregate principal amount of its outstanding 9.25% guaranteed senior notes due 2024 pursuant to a ‘modified Dutch auction’ procedure.

MMC is a high-quality coking coal producer and exporter engaged in the open-pit mining of coking coal at deposits in the South Gobi province of Mongolia. It is listed on The Stock Exchange of Hong Kong Limited and was the first Mongolian company to offer its shares internationally.

The Davis Polk corporate team included partner Gerhard Radtke and registered foreign lawyers Xin (Sheen) Xu and E.Mendtuvshin (Mendee) . The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Members of the Davis Polk team are based in the Hong Kong and London offices.