DBM raises bonds without Mongolian government guarantee - News.MN - The source of news

DBM raises bonds without Mongolian government guarantee

Wednesday

2018/11/14

Dollar (USD)

2533.95

Ulaanbaatar

+19°C

DBM raises bonds without Mongolian government guarantee

The Development Bank of Mongolia (DMB) successfully raised bonds worth of USD 500 million on 16 October without any government guarantee. The bank received offerings from international investors for buying the bonds worth of USD 4.1 billion; eight times higher than the bank’s issuance.

The main purpose of the Development Bank is to provide long-term low-interest rate financing for major projects that are cannot be supported by commercial banks.

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