Mongolia tastes its first dim sum bond

Given the incentive of the high coupon of 10%, the issue provides an interesting investment alternative for CNH bond investors and further diversifies the offshore renminbi bond market.

Mongolia tastes its first dim sum bond

Trade and Development Bank of Mongolia has priced the first renminbi-denominated bonds from the country, raising Rmb700 million $115 million at a10.0% yield, a record high coupon for a dim sum offered by a bank issuer.

The first dim sum bond from Mongolia, a neighbor with a complicated history and relationship with China, provides an interesting investment alternative for CNH bond investors and further diversifies the offshore renminbi bond market.

“High-yield dim...

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