TDBM dollar deal hopes dashed by Mongolia worries

Mongolia_230
By Virginia Furness
17 Jul 2014

Trade & Development Bank of Mongolia (TDBM) was forced to pull its dollar bond after announcing guidance on Thursday July 9. While bankers on the deal blamed shockwaves from a bank crisis in Portugal, investors said they were not willing to take on Mongolian risk and that the deal hardly received any orders at all.

A global panic was sparked on July 9 European time when trading in Espírito Santo Financial Group's shares was suspended, sparking fears that a new crisis might be about to engulf peripheral European financial names The group is the largest shareholder in Portugal’s ...

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