Trade and Development Bank pays its bond payment before its maturity

Sep 28 • Companies, Finance • 101 Views • No Comments on Trade and Development Bank pays its bond payment before its maturity

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Trade and Development Bank paid back its $75 million corporate bond, including coupon, raised in the international financial market, before its maturity. Bank believes that it will re-assure that Mongolia is responsible for its investors.

Trade and Development Bank listed its corporate bond in January 2007 at the international financial market raising $150 million, through mid-term bond program and it successfully sold $75 million of three-year bond with annual interest payment of 8.625%. It was later expanded into $300 million in 2008.

Bond was sold to 96 investors of 13 countries all over the world. Thanks to the effective management TDB is soundly overcoming recession and financial crisis, meeting with the criteria of payment capacity, availability of own fund and others. Therefore, it proposed to its investors to pay its bond payment back before its maturity.

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