TDB sold USD 500 million of bonds

2015-08-25 16:55:32

Trade and Development Bank of Mongolia, the nation’s largest lender by assets, sold 500 million US dollars of five-year dollar bonds after postponing the offering in July due to adverse market conditions.

The Ulaanbaatar-based bank issued the notes to yield nine point three hundred seventy five percent, according to data compiled by Bloomberg. The government’s U.S. currency notes due in two thousand eighteen yield six point twenty three percent and those maturing in December two thousand twenty two pay seven point Oh six percent, the data show. “We thought that from a relative value standpoint we were paid well and this was attractively priced. From a risk-reward standpoint, this seems like a good opportunity” said Stephen Hooker, managing director of foreign research and portfolio manager at Newfleet Asset Management, which was involved in the bond purchase.

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