Mongolian milk producer issues country's largest-ever corporate bond
A Mongolian dairy producer has issued the local stock exchange's largest ever corporate bond, testing market appetite following an economic bailout.
Mongolian milk producer issues country's largest-ever corporate bond. A Mongolian dairy producer has issued the local stock exchange's largest ever corporate bond, testing market appetite following an economic bailout. Suu, which means milk in Mongolian, sold 6 billion tugrik ($2.55 million) of debt as it aims to boost production and refinance dollar-denominated debt. The one-year bills have an annual interest rate of 17.5 percent. Investors were drawn to the bond because of the stability brought to the local currency, the tugrik, following a $5.5 billion rescue package from the International Monetary Fund (IMF).
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