pioneering-mongolian-75-million-bank-bond

Pioneering Mongolian $75 million bank bond

The novelty value of Mongolia's first international bond offering sees solid demand from investors.
Trade and Development Bank of Mongolia TDBM, MongoliaÆs largest bank by assets, priced the countryÆs first-ever international bond offering on Monday. The three-year $75 million bond will increase the bank's ability to make foreign currency loans to its customers and is part of a $150 million issuance programme.

ING was the sole arranger for the deal.

Despite its name, TDBM is not a development bank and carries out the full range of wholesale and retail banking but not investment banking activities. Founded in 1990, the government divested itself of direct ownership around five years ago and the bank is now majority held by foreign investment company, Globull, and Mongolian institutions including the Mongolian Postal...
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