Golomt Bank JSC successfully issued its standalone three-year US$300 million senior unsecured notes in the international capital markets with ‘J.P. Morgan Securities PLC’, ‘Deutsche Bank AG’ acting as joint global coordinators and ‘Korea Investment & Securities Asia Limited’ acting as a joint bookrunner.

This marked the return of Mongolian commercial banks' presence in the international debt capital markets which had been halted for over a decade. Moody's and S&P rated the notes as B3/B, capping the sovereign rating of B3/B/B+ rating.

“Golomt Bank became the first Mongolian commercial bank to tap the dollar bond market on a standalone basis in the last 12 years. We are honored to have entered into the global markets not only representing our bank but the banking sector as a whole.” said Odonbaatar Amarzaya, DCEO of Golomt Bank.

The roadshow took place in Hong Kong, Singapore, London, and New York in the week of April 29, covering a wide range of investors, including hedge funds and global asset management firms with orders reaching US$500 million. Golomt Bank's US$300 million three-year senior bond in the international market has been successfully issued with a coupon of 11 percent in the Reg S/144A format. The notes were allocated to hedge funds and real money investors in the USA, Asia, Europe, and Mongolia.
 

“For us, everything is new. We think this will set a benchmark to bring more issuers to the global capital market.” said Norihiko Kato, CEO of Golomt Bank.

This successful transaction is an important event for the Mongolian banking sector to make a breakthrough in the global market and subsequently increase foreign exchange reserves in Mongolia.