Mongolia has successfully solved 580 million USD Euro bond payment.
On March 20, 2017, the Prime Minister Mr.Erdenebat met with heads of state owned enterprises and public agencies. During the meeting, the Prime minister assured that Government of Mongolia successfully has solved USD 580 million Euro bond payment which is matured on March 21, 2017.
According to the statement of the Prime Minister, Government of Mongolia issued USD 600 million Khuraldai bond in exchange for the USD 580 million of Euro bond issued by Development Bank of Mongolia and the bond is a seven year, with an interest rate of 8.75 percent.
The 82 percent (USD 475.9 million) of bondholders agreed to exchange their shares for Khuraldai bond, at USD 100 per share whereas the remaining 124 million of the bond are used to repay USD 104 million of Euro bond.