Mongolia issues bond worth 800 million USD in international market

Oyundelger 2017-10-27 06:10

Economy

The Mongolian government has issued a bond worth more than 800 million U.S. dollars in the international market.

Mongolia issues bond worth 800 million USD in international market. The Mongolian government has issued a bond worth more than 800 million U.S. dollars in the international market. The annual interest rate of the "Gerege" bond is 5.6 percent and will mature in 5.5 years. Credit Suisse, Deutsche Bank and JPMorgan have worked with the Mongolian Finance Ministry to issue the new bond. The new bond will be spent for the repayment of the "Chinggis" bond (1.5 billion dollars) and "Dim Sum" bond (160 million dollars). The rest will be spent on adding foreign currency reserves. At the beginning of November, 800 million dollars will be transferred to Mongolia. As a result, the Mongolian togrog will continue to strengthen against the U.S. dollar.