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.

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 sum bonds are usually issued by Chinese property developers. Now a foreign bank joins in the party and we believe that issuers in other types will also consider such financing,” said a source familar with...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

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 (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222