Mongolia mines deep for bond investors

Government takes new step to avoid balance of payments crisis by raising $500 million from the international bond market.

Mongolia mines deep for bond investors

The Government of Mongolia took a further step away from a balance of payments crisis on Monday after raising $500 million from the international bond markets. 

The B2BB rated credit's ability to access the market at all underscores just how much conditions have improved since mid-February when the sovereign's existing bonds were trading nearly 10 points wider.

The government had originally hoped to raise funds in January but had...

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