Mongolia Govt to Meet Investors on Possible Dollar Bond Sale - Source
The Mongolian government will meet investors starting Thursday for the possible sale of a dollar bond, a person with knowledge of the matter said Wednesday.
The person didn't give further details about the investor roadshow or potential deal, but Mongolia's central bank chief, N. Zoljargal, had said early this month that the landlocked Asian country plans to raise $1.5 billion by selling a government bond to finance the development of its infrastructure.
The government has mandated Bank of America Merrill Lynch, Deutsche Bank, HSBC, J.P. Morgan and TDB Capital to arrange the investor meetings, the person said.
Resource-rich Mongolia is trying to attract more foreign investment to help it exploit huge coal and other mineral reserves. But some planned projects have run into problems because of government policy shifts and a lack of key legislation governing investment rules. In May, Mongolia passed a law limiting foreign ownership in strategic industries such as mining and finance.
Write to William Mallard at billy.mallard@wsj.com
The person didn't give further details about the investor roadshow or potential deal, but Mongolia's central bank chief, N. Zoljargal, had said early this month that the landlocked Asian country plans to raise $1.5 billion by selling a government bond to finance the development of its infrastructure.
The government has mandated Bank of America Merrill Lynch, Deutsche Bank, HSBC, J.P. Morgan and TDB Capital to arrange the investor meetings, the person said.
Resource-rich Mongolia is trying to attract more foreign investment to help it exploit huge coal and other mineral reserves. But some planned projects have run into problems because of government policy shifts and a lack of key legislation governing investment rules. In May, Mongolia passed a law limiting foreign ownership in strategic industries such as mining and finance.
Write to William Mallard at billy.mallard@wsj.com
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