Mongolia to Raise $500 Million in First Dollar Bond Sale
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Mongolia is planning its first sale of sovereign bonds, seeking some $500 million, to help companies from the resource-rich nation located between China and Russia raise funds from credit markets.
“We’re looking at an issuance of inaugural sovereign bonds in order to set up a benchmark and open up a window for private companies to go and raise money,” Vice Minister of Finance, Ganhuyag Chuluun Hutagt, said yesterday in an interview in Ulan Bator. The sale will “probably” take place this year, pending parliament’s approval.