DBM bond sale offers up rare Mongolian opportunity

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By Morgan Davis
18 Oct 2018

Mongolia received a huge vote of confidence from investors on Tuesday, when the Development Bank of Mongolia raised $500m from a bond that received orders exceeding $4bn at its peak. The country’s turnaround story and the issuer’s savvy around execution helped cement the transaction.

The enthusiasm for DBM’s trade showed a complete U-turn for the Mongolia complex.

Less than two years ago, the country was on the brink of default and had to rely on an International Monetary Fund (IMF) bailout to scrape by. Since then, Mongolia has doubled down on ...

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