1 8000 CITIZENS TO BE INVOLVED IN CHECK-UPS FOR TUBERCULOSIS WWW.MONTSAME.MN PUBLISHED:2019/02/19      2 PARLIAMENT TO DISCUSS TAX PACKAGE NEXT MONTH WWW.ZGM.MN PUBLISHED:2019/02/19      3 MONGOLIA TO HOLD DISASTER PREPAREDNESS TRAINING IN APRIL WWW.XINHUANET.COM PUBLISHED:2019/02/19      4 HUNDREDS SICKENED IN MONGOLIA AFTER EATING AT LOCAL KFC RESTAURANT WWW.BLOOMBERG.COM PUBLISHED:2019/02/19      5 IRAN EXPECTING CHINA, MONGOLIA TO JOIN UNESCO-REGISTERED NORUZ WWW.TEHRANTIMES.COM PUBLISHED:2019/02/19      6 DBM BOND SELECTED AS ASIA’S BEST DEAL WWW.MONTSAME.MN PUBLISHED:2019/02/19      7 MONGOLIA EXPORTS 2.3 MILLION TONS OF COAL TO CHINA SINCE 2019 WWW.MONTSAME.MN PUBLISHED:2019/02/19      8 JAPANESE FUNDED SOLAR POWER PLANT TO BE BUILT IN KHOVD AIMAG WWW.MONTSAME.MN PUBLISHED:2019/02/19      9 AMERICA'S FIGHT WITH HUAWEI IS MESSING WITH THE WORLD'S 5G PLANS WWW.CNN.COM PUBLISHED:2019/02/18      10 GERMANS GO GAGA FOR RUSSIAN FOOD DISCOUNTER MERE AMID NOSTALGIA FOR ‘IRON CURTAIN’ ERA WWW.RT.COM PUBLISHED:2019/02/18      ЗГҮЦ-ЫН АНХДАГЧ ЗАХ ЗЭЭЛИЙН АРИЛЖАА МХБ-ИЙН ҮЙЛ АЖИЛЛАГААНЫ ОРЛОГО БУУРЧЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/19     “TEMASEK HOLDINGS” КОМПАНИ “TRQ” ДЭХ ЭЗЭМШЛИЙН ХУВИА 28 ХУВИАР БУУРУУЛАВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/19     ТӨСВИЙН ЗАРЛАГЫН ӨСӨЛТ ОРЛОГЫН ӨСӨЛТӨӨС 4 ПУНКТЭЭР ӨНДӨР БАЙНА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/19     ЭРЧИМ ХҮЧГҮЙ БОЛООД БАЙСАН ГУРВАН АЙМГИЙГ ЦАХИЛГААНД ХОЛБОВ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/02/19     СҮРЬЕЭГИЙН ШИНЖИЛГЭЭНД 8000 ИРГЭНИЙГ ХАМРУУЛНА WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/19     ГАДААД ХАРИЛЦААНЫ ЯАМ "ДЭЛХИЙГЭЭР АЯЛАГЧИД" ФЭЙСБҮҮК ГРУППТЭЙ ХАМТРАН АЖИЛЛАХ САНАМЖ БИЧИГ БАЙГУУЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/19     ОН ГАРСНААР ХӨРӨНГИЙН БИРЖ ДЭЭР ХОЁР КОМПАНИ АРИЛЖААНЫ ЗАХИАЛГА ЭХЛҮҮЛЛЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/02/19     “АРД КРЕДИТ” ҮНЭТ ЦААСАА ГАРГАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/19     ЗУРААЧ Б.БАЯРЦЭНГЭЛД АНГЛИЙН ХОЁР ГАЛЕРЕЙ ХАМТРАН АЖИЛЛАХ САНАЛ ТАВЬЖЭЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/19     АРХИ БОРЛУУЛДАГ 100 АЖ АХУЙН НЭГЖИЙН ЗӨВШӨӨРЛИЙГ ЦУЦАЛЛАА WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/18    

Frontclear facilitates a transaction with Development Bank of Mongolia and Societe Generale www.montsame.mn

Ulaanbaatar/MONTSAME/ Frontclear arranged and structured back-to-back USD/JPY cross-border cross currency swap transactions for the value of USD 30 million with Societe Generale and Development Bank of Mongolia.

Credit, legal and operational risks have made it very difficult for Mongolian banks to access global capital markets. This second landmark transaction of Frontclear in Mongolia has made it possible for Development Bank of Mongolia LLC (DBM) to competitively access the swap market with foreign banks and hedge the proceeds of a Samurai bond issue into USD. Both cross currency swap transactions were documented under an International Swap and Derivatives Association (ISDA) agreement, whereby Frontclear customized the swap confirmation to overcome legal issues in the Mongolian market.

The transactions helped to further clarify certain legal issues related to close-out netting in Mongolia, which were mitigated by effective Frontclear deal arranging and structuring. The transaction documents introduced best practice operational and legal concepts, which were reviewed and discussed in a Frontclear organized Executives’ Roundtable in Ulaanbaatar in September 2018. Frontclear is already planning further technical assistance in Mongolia to address those legal issues as well as other roadblocks preventing Mongolian banks effecting accessing global funding and swap markets.

“We are proud to execute our second transaction in Mongolia and the key role we have played in originating the structure and bringing Societe Generale to work in money market transactions in the country. The transaction strengthens Mongolian banks’ ability to mitigate legal and operational risks and sets a benchmark for the development of Mongolia’s money market going forward,” according to Andrei Shinkevich, Senior VP at Frontclear.

“This is DBM’s first ever swap transaction with Societe Generale and we look forward to working with new partners to expand our treasury operation,” – Amgalan Battulga, Head of Treasury Management of Development Bank of Mongolia noted.

“Societe Generale is delighted to have concluded this transaction with Frontclear allowing Development Bank of Mongolia to hedge interest rate and currency risks related to its Samurai bond. It illustrates the strength of the collaboration between our two institutions, Societe Generale and Frontclear, which share the common objective to participate to the development of capital markets in emerging countries,” says Jérôme Sabah, Global Head of Rates, Credit and Forex Sales for Financial Institutions at Societe Generale said.
source: Development Bank of Mongolia



Published Date:2019-01-11