Pages

Friday, February 24, 2017

[BREAKING: Mongolia sets 8.75% minimum yield on new seven-year bonds]

Please click Display Images or Download Pictures to properly view this newswire

- BREAKING NEWS -

Friday, February 24, 2017

Follow Cover Mongolia on LinkedIn, Twitter, Facebook, Instagram, YouTube and Blogspot

 

Mongolia sets minimum yield for new dollar bonds

By Daniel Stanton and Spencer Anderson

SINGAPORE/HONG KONG, Feb 24 (IFR) - The Government of Mongolia's new US dollar bonds, to be issued as part of an exchange offer for Development Bank of Mongolia's state-guaranteed March 2017 bonds, will have a seven-year tenor and minimum yield of 8.75 percent.

The exchange offer ends on March 1 and the new notes will be priced on March 2. Investor meetings run until February 28.

Credit Suisse and JP Morgan are managing the transaction.

There had been concerns that Mongolia might struggle to meet the $580 million DBM bond redemption on March 21.

However, over the weekend the International Monetary Fund said it had reached an agreement on funding for Mongolia. The agreement is subject to the confirmation of financing assurances and approval by the IMF executive board. That means funding would not be received before the DBM bonds mature, raising the need for the exchange offer.

Link to article

 

---

    

Suite 303, Level 3, Elite Complex

14 Chinggis Avenue, Sukhbaatar District 1

Ulaanbaatar 14251, Mongolia
Email: info@covermongolia.com

Website: www.covermongolia.com

Phone (Office): +976 7711 6779

P Please consider the environment before printing this e-mail.

 

 

 

4 comments:

  1. This comment has been removed by a blog administrator.

    ReplyDelete
  2. This comment has been removed by a blog administrator.

    ReplyDelete
  3. This comment has been removed by a blog administrator.

    ReplyDelete
  4. This comment has been removed by a blog administrator.

    ReplyDelete