Bond. Genghis Bond.

Just found this tweet by Chairman of the Mongolian Parliament Zandaakhuu Enkhbold in my timeline:

Монгол улсын ЗГ-н анхны бонд (Чингис бонд) борлогджээ. 5 жил $500M нь 4.125%, 10 жил $1B нь 5.125% буюу Испани улсынхаас дээр бн.

I think this might be about market data for “Genghis Bonds” (Чингис бонд) that Mongolia has issued. 5 year bonds of  $500 million volume are at 4.125%, and ten year bonds at $1 billion volume at 5.125%, which compares favorably to Spain. (Don’t take my word for that translation, though).

That’s interesting because I wrote before about Mongolian bonds before, noting that these are rated “not-investment grade” (e.g. junk) and that S&P has lowered the rating in October because they don’t like the fact that Mongolian politicians fail to provide stability for the Oyu Tolgoi project.

But mainly I wrote this post because I liked the idea for the headline.

More on this bond issue from the WSJ here and here.

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003, lenzblog.com).

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