Mongolian debut breaks Asian record

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Mongolian debut breaks Asian record

Mongolia made an explosive debut in the international bond market this week, raising $1.5bn from a deal that was the biggest Asian sovereign debut in more than a decade. But more eye-catching for bankers was the deal’s size relative to the country’s economy — it was equivalent to 15% of Mongolia’s projected GDP for this year, and was greater than its entire foreign exchange reserves.

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