In May 2024, Golomt Bank JSC successfully issued its first three-year US$300 million senior unsecured notes in the international capital markets. The initial offering was met with robust investor demand, reflecting strong confidence in Golomt Bank’s creditworthiness and its standing in the global market.
Building on this success, on December 3, 2024, Golomt Bank executed a tap issuance of US$100 million in senior unsecured notes, priced at a yield of 8.5%. This move enabled the bank to lower its funding costs by an impressive 350 basis points, just six months after its debut in the international bond markets. The yield achieved represents the lowest funding cost by a Mongolian private sector issuer in the international bond market year-to-date.
This brings the total size of the bond to US$400 million, making it the largest international issuance by a Mongolian private sector entity since 2020 and the largest from a Mongolian financial institution since 2016. The tap issuance was driven by strong reverse inquiries from high-quality global institutional investors, underscoring Golomt Bank’s growing reputation and recognition among international investors.
This milestone highlights Golomt Bank’s commitment to expanding its global presence and demonstrates its ability to successfully access international funding at competitive rates, setting the stage for further growth and development in the financial sector.
In May 2024, Golomt Bank JSC successfully issued its first three-year US$300 million senior unsecured notes in the international capital markets. The initial offering was met with robust investor demand, reflecting strong confidence in Golomt Bank’s creditworthiness and its standing in the global market.
Building on this success, on December 3, 2024, Golomt Bank executed a tap issuance of US$100 million in senior unsecured notes, priced at a yield of 8.5%. This move enabled the bank to lower its funding costs by an impressive 350 basis points, just six months after its debut in the international bond markets. The yield achieved represents the lowest funding cost by a Mongolian private sector issuer in the international bond market year-to-date.
This brings the total size of the bond to US$400 million, making it the largest international issuance by a Mongolian private sector entity since 2020 and the largest from a Mongolian financial institution since 2016. The tap issuance was driven by strong reverse inquiries from high-quality global institutional investors, underscoring Golomt Bank’s growing reputation and recognition among international investors.
This milestone highlights Golomt Bank’s commitment to expanding its global presence and demonstrates its ability to successfully access international funding at competitive rates, setting the stage for further growth and development in the financial sector.