Mongolia sells $75m zero-coupon note in rare debt sale
Mongolia raised $75m in the international debt markets last week, selling a zero coupon note that marked the first dollar bond issue from a Mongolian borrower for more than two years.
Standard Bank was the sole arranger of the one year note, which was sold at an issue price of 89.686% and redeems at par — working out to an internal rate of return of around 11.5%.
It was not immediately clear whether the deal had been fully marketed, and
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