Billion $1.5 Bond to be issued by the government

Nov 7 • Banking, Business, News • 1063 Views • 1 Comment on Billion $1.5 Bond to be issued by the government

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As approved by the Parliament a couple of weeks, the Government of Mongolia announced its decision to issue US$5 Billion bond program in the international stock market in 2012 and 2013. US$1.5 Billion out of the US$5 Billion is planned to be issued this year, specifically within the month of November. The coupon rate is expected to be about 4%.

The bond cannot be spent on social programs or budget deficit. It will be focused on financing long and medium term infrastructure projects such railway.

According to Chuluunbat Ochirbat, Mongolia’s vice minister of economic development, there is a strong potential for Mongolia to attract foreign investments given the growth outlook of the country and the government’s efforts. He pointed out that the government plans to raise capital from bond sales and in loans from nations including China, Japan and Germany to fund rail and power projects at a recent conference in Hong Kong.

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