First stage trading of Erdenes Tavantolgoi bond successfully completedEconomy
Ulaanbaatar /MONTSAME/. For the first time in Mongolia, Erdenes Tavantolgoi JSC has announced the issuance of ‘ETT Bond’ with a total value of up to MNT 2 trillion in three stages as part of the ‘MNT 10 trillion Comprehensive Plan for Economic Recovery’ under implementation by the Government of Mongolia.
The bond issuance is aimed to implement major projects such as the Tavan Tolgoi Thermal Power Plant, Coal Processing Plant, Water Supply Plant, and Railway and finance working capital.
The first phase was successfully organized by opening a trade worth MNT 600 billion on March 30, 2021, and closed on April 9, 2021 at 17:00.
Within the framework of the primary market trading and financing program, a total of MNT 677.7 billion of orders were submitted by stakeholders and fully met planned target.
964 business entities and individuals participated in the trading and raised MNT 336.6 billion with 10% interest rate and 119.7 million USD with 6.3% -6.8% interest rate.
These capitals raised by hundreds of Mongolian citizens, businesses and several banks and are expected to make a significant contribution to the company's future growth and development in Mongolia.