Trade and Development Bank
the oldest and the largest corporate bank in Mongolia, has successfully
issued the country’s first ever offshore CNH 700 million bond listed in
Singapore Stock Exchange on 14 January 2014.
This was the fifth time that tapped into the international bond markets, after three successful
senior unsecured deals in 2007, 2010 and 2012, respectively and a
subordinated note issuance in 2010. In fact, TDB is the first ever Mongolian bank to issue bonds in both USD and CNH, and the only Mongolian repeat bond issuer.
The transaction met with overwhelming
demand and produced an order book of CNH 1.4 billion, comprising of 48
accounts and the issue has been a part of USD 700 million EMTN (Euro
Medium Term Note) program.
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