Earlier today (29 September), Finance Minister Ch.Khurelbaatar announced that a USD 600 million 5.5-year bond has been successfully raised from the international market in cooperation with the Central Bank of Mongolia. The ‘Nomad’ bond with 5.125 percent interest is similar to other high-yielding government bonds such as the Mazaalai bond (2016) with 10.872 interest and Chinggis bond (2012) with 5.125 interest.

Mongolia pays USD 203 million each year for the repayment of four bonds; namely, the Mazaalai, Chinggis, Gerege and Khuraldai. By issuing the ‘Nomad’ bond, the repayment of those bonds will be decreased to USD 176.4 million.