Mongolia's sovereign debut

Mongolia attracts twice its GDP for debut bond

Mongolia attracts $15 billion of demand – twice the size of its GDP – for its inaugural bond. Bond bubble anyone?
Mongolia A frontier market by any measure

Mongolia successfully established a benchmark curve with its $1.5 billion debut bond early Thursday morning, after raking in an astounding $15 billion of orders.

One banker joked that Mongolia has more yaks than people. It is not far from the truth in fact, one reader claims Mongolia has 50 million head of livestock, compared to 2.8 million people. The landlocked country has a gross domestic product of just $8.5 billion, so orders were roughly twice the size of the economy.

Getting a piece of a frontier credit like this, and...

¬ Haymarket Media Limited. All rights reserved.

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222