Chicago, Oct. 6 – Mongolia sold a $600 million 5.5-year Nomad bond with a 5 1/8% coupon (B3/B/B), according to a press release.
The proceeds are being used to repurchase the Mazaalai bonds due in April and the Chinggis bonds due in December 2022.
The new 5 1/8% bonds replace the 10 7/8% Mazaalai bonds for an annual savings of $26.7 million.
JPMorgan, Morgan Stanley, HSBC and Nomura led the deal.
| Issuer: | Mongolia
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| Issue: | Bonds
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| Amount: | $600 million
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| Maturity: | 5.5 years
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| Bookrunners: | JPMorgan, Morgan Stanley, HSBC and Nomura
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| Coupon: | 5 1/8%
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| Pricing date: | Sept. 28
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| Ratings: | Moody’s: B3
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| S&P: B
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| Fitch: B
|
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