The federal government of Mongolia final week bought $600 million in debt that allowed the Central Asian republic to slash 575 foundation factors bp off its funding prices and repay some costly borrowings whereas paving the way in which for a future issuance.
It bought $600 million 5.5 12 months Reg S 144a paper with a 5.125% coupon. Demand was heavy, with books reaching $2.5 billion at their peak. The bonds have been lastly priced at 98.823 to yield 5.375%.
The scale of the bond might have been increased however following a carefully run election in late June, the brand new ministry of finance was eager to make sure a profitable deal.
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