Mongolia

Mongolia plans to sell as much as $1.2 billion of bonds overseas later this year, its first sale of dollar-denominated debt, to fund infrastructure supporting its mining industry, Finance Minister Sangajav Bayartsogt said. Investment banks are advising Mongolia to issue bonds with maturities of between five and 10 years, Bayartsogt said in an interview today in Ulan Bator. The government plans to meet investors in Hong Kong, London and New York, he said. The offering will take place after International Monetary Fund (IMF) restrictions on the country issuing debt end in October, Bayartsogt said. (Bloomberg)