The Trading and Development Bank (TDB) of Mongolia has again exchanged USD 500 million Government guaranteed bonds on the international market. The revenue from the issue of the bonds will come to Mongolia in the near future. This exchange was the fourth of its kind by the TDB onto the international market.

Previously the TDB sold:

• USD 500 million five-year bonds with a rate of 9.375%. These were successfully sold in May 2015.   

• CHY 700 million bonds to the Chinese Market in 2014

• USD 300 million bonds which has three years term and 10% rates, in 2012.

This time, it looks like TDB has exchanged the USD 500 million bonds again, in order to extend the payment period on the previous bonds.