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.

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.

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.

Golomt Bank