Reposted from The UB Post
By B. Khash-Erdene
Currently, the mongolian government has 6.7 trillion MNT in debt. In the last twenty years, the government has lent around three trillion MNT. On June 2012, the Development Bank released bonds worth 580 million USD and in addition to this the government has released bonds worth 1.5 billion USD last month. More…
Reposted from The Wall-Street Journal
By Katie Martin
Mongolia is the new Zambia.
Back in September, Zambia snagged the market’s attention when it managed to issue 10-year bonds at a price only slightly above Spain’s borrowing costs.
Wednesday, Mongolia is in the spotlight, More…
Reposted from Monet Capital
By Vidur Jain
The government announced plans to raise USD 1.5 Billion in government bonds to develop infrastructure, although this is a positive indication it will be a tough sell. With the political uncertainty and rampant corruption allegations, the government will have to offer a high coupon rate in compensation which they may not be able to service. More…
The African continent’s sovereign-debt markets are luring Western investors
Reposted from the Wall Street Journal
By Patrick McGroarty and Prabha Natarajan
African countries are winning over investors scrounging for profits in a world of falling interest rates and lackluster growth.
Last month, Zambia raised $750 million with a 10-year global bond in an auction that drew offers worth more than 15 times that amount. Nigeria in September sold 30 million naira ($192,000) in five-year bonds, to demand twice as high. Spurred by the heavy interest, Rwanda wants to issue a global bond by June and Kenya is planning one as early as next year. More…
Reposted from The Asset
By Chito Santiago
Investors continued to pile into the bond offering by Mongolian issuers as they poured large orders into the inaugural transaction by Mongolian Mining Corporation (MMC).
The Hong Kong-listed coal mining company on March 22 priced a five-year USD600 million issue at par with similar coupon and yield of 8.875 percent. More…
Reposted from Bloomberg
Statute outside of the Ho Chi Ming Stock Eschange (HOSE)
Vietnam’s two-year government bonds rose the most in a week on speculation banks have more cash to invest in debt securities. The dong was stable.
Lenders’ cash ava.ilability has “significantly improved” as the State Bank of Vietnam’s purchases of foreign currencies since the start of 2012 injected dong into the financial system, Governor Nguyen Van Binh told reporters yesterday. More…
Reposted from Bloomberg Businessweek
By Rachel Evans
The Development Bank of Mongolia LLC is marketing a sale of U.S. dollar bonds to yield about 6 percent to 6.25 percent, according to a person familiar with the matter.
The company hired Deutsche Bank AG, HSBC Holdings Plc (HSBA) and ING Groep NV to help arrange a series of credit investor meetings from March 8, another person familiar with the matter said last week. The Development Bank of Mongolia is wholly-owned by the government of Mongolia.
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