Chicago, Jan. 11 – The government of Mongolia priced $450 million of 8.65% five-year notes at 98.812 to yield 8.95% (B/B) on Tuesday, according to an announcement.
The notes are non-callable.
Credit Suisse (Hong Kong) Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and HSBC Ltd. are the joint lead managers and joint bookrunners.
Proceeds will be used to repurchase any and all of Mongolia’s 2023 notes in a tender and/or exchange offer and, with any remaining proceeds, the sovereign’s 2024 notes.
Regarding an ongoing and related exchange offer, up to $200 million notes exchanged from those series will be fungible with the new notes.
| Issuer: | Mongolia
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| Amount: | $450 million
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| Issue: | Notes
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| Maturity: | Jan. 19, 2028
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| Bookrunners: | Credit Suisse (Hong Kong) Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. and HSBC Ltd.
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| Coupon: | 8.65%
|
| Price: | 98.812
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| Yield: | 8.95%
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| Call features: | Non-callable
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| Trade date: | Jan. 10
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| Settlement date: | Jan. 19
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| Ratings: | S&P: B
|
| Fitch: B
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| Distribution: | Rule 144A and Regulation S
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| ISINs: | US60937LAG05, USY6142NAG35
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