Development Bank of Mongolia successfully issues USD 240 million bond at 8.5% coupon

• The Development Bank of Mongolia has successfully issued a USD 240 million bond at an 8.5% coupon rate on the Vienna Stock Exchange.
• The bonds were offered at USD 98 per unit, with maturity set for July 3, 2028.
• Simultaneously, the bank announced a tender offer to buy back its previously issued USD 200 million bond, causing a surge in the bond’s market price.
• As of the latest update, the bank’s 11% coupon bond maturing on March 7, 2026, is trading at around USD 102 (2% above par value).

Photo from: www.dbm.mn