Mongolian Government Releases USD 1.5 billion in Bonds | Ubpost News: "The Wall Street Journal – Mongolia, a country that has been rescued five times in 22 years by the International Monetary Fund, sold $1.5 billion in debt Wednesday in its first government bond offering.
The sale, equal to nearly one-fifth of the size of Mongolia’s economy, is akin to the U.S. government borrowing $2.5 trillion in one bite.
“This is a big-bang entry into global capital markets,” said Jan Dehn, co-head of research for Ashmore Investment in London, which manages $68 billion and had planned to buy the bond.
Mongolian officials, who have been visiting investors this week to drum up demand, sold more than 80% of the two-part deal. A $500 million, five-year bond sold at its launch price of 4.125% yield. A $1 billion, 10-year bond sold at 5.125%, according to people familiar with the deal."
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