Mongolia drew attention after mandating banks for a proposed new dollar issue and tendering for its old USD and Renminbi 2018 bonds.

The sovereign has a $500 million 4.125% percent bond maturing in January 2018, according to Thomson Reuters data. The sovereign issued a $600 million global bond in March after signing a new funding agreement with the International Monetary Fund.

The Government of Mongolia (Caa1/B-/B-), has mandated Credit Suisse, Deutsche Bank and JP Morgan as joint lead managers and joint bookrunners for a US dollar bond.