By Frances Yoon
HONG KONG, Oct 16 (IFR) - The Government of Mongolia, rated Caa1/B-/B-, has mandated Credit Suisse, Deutsche Bank and JP Morgan as joint lead managers and joint bookrunners for a proposed US dollar bond.
A series of fixed income investor meetings and calls in New York, Boston, London, Singapore and Hong Kong will commence tomorrow for a 144A/Reg S senior offering.
The proposed notes have initial ratings of B-/B- (S&P/Fitch).
The sovereign has a $500 million 4.125% percent bond maturing in January 2018, according to Thomson Reuters data.
The sovereign issued a $600 million global bond in March after signing a new funding agreement with the International Monetary Fund.
That offering comprised an exchange offer for holders of Development Bank of Mongolia's state-guaranteed bonds, as well as a new-money component that priced at a yield of 7.625 percent. The notes were bid today at a cash price of 112.3 and a yield of 6.3 percent, according to Tradeweb. (Reporting by Frances Yoon; editing by Daniel Stanton and Vincent Baby)

Published Date:2017-10-16