The Asset - Magazine- Development Bank of Mongolia prices maiden bond issue: "The Development Bank of Mongolia (DBM) on March 14 priced its inaugural international bond offering amounting to USD580 million, providing investors with further diversification into new asset class.
Mongolia’s only state-owned policy bank priced a Reg S five-year deal at par with a similar coupon and yield of 5.75 percent. The deal ended what had been a long wait for a Mongolian sovereign issue and created a benchmark and a yield curve for future transactions from the country’s banks and corporates. The bonds traded well in the secondary market, commencing trading at 101, before falling to 100.25. They recovered on March 16 and were trading at 100.5 in the afternoon, indicating that pricing was spot-on."
'via Blog this'
