Mongolian Mining to issue new notes concurrently with exchange offer

By Mary-Katherine Stinson

Lexington, Ky., Aug. 28 – Mongolian Mining Corp. and indirect wholly owned subsidiary Energy Resources LLC are conducting an offering of new notes concurrently with an any-and-all exchange offer for their outstanding 9¼% senior notes due 2024 (ISIN: USG61759AA70), according to a notice.

The new notes issued in connection with the exchange offer and in the new issuance will have the same terms and will form a single series.

They will be guaranteed by the subsidiary guarantors.

The pricing of the new notes will be announced on Sept. 6 concurrently with the exchange offer results.

Both the new notes and the exchange offer are expected to settle on Sept. 13.

The new notes are expected to be listed on the Singapore Exchange on Sept. 14.

Deutsche Bank AG, Hong Kong Branch and Morgan Stanley & Co. International plc are the joint bookrunners and joint lead managers.

The Bank of New York Mellon, London Branch, will act as the notes’ trustee.

The consummation of the exchange offer is a condition precedent to the completion of the new money issuance.

Proceeds of the offering, if completed, are designated for refinancing purposes.

The company said it is undertaking the new money issuance and the concurrent exchange offer as part of its active management of liabilities and capital.

Mongolian Mining is an Ulaanbaatar, Mongolia-based coking coal producer and exporter.

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