The second tranche of ETT bonds will start on August 16

For the first time in Mongolia, “Erdenes Tavantolgoi” JSC has announced the issuance of “ETT Bond” with a total value of up to 2 trillion MNT in order to implement major projects and finance working capital. Also, the company is issuing the bond in both of USD and MNT.

The ETT bond is planned to be offered to the public in three tranches. The first tranche was held from March 30, 2021, to April 9, 2021. A total of 970 individuals and business entities participated in the trading and placed 2,755,639 orders, raising MNT 347.7 billion and MNT 330 billion under bank refinancing agreements, for a total of MNT 677.7 billion.

The second tranche of the bond will be issued on August 16-25, offering USD 100 million and MNT 285 billion worth of bonds to the public. The bond is denominated in US dollars, so there is no risk of currency depreciation and has the advantage of relatively high-interest rates over other US dollar financial products.

The bond financing will be used for major national developments such as the Coal Concentrator, the Water Supply Plant, and the Railway. As a result of the above constructions, the company's efficiency will increase, and it is planned to earn a total net profit of MNT 11.5 trillion by 2025.

Source: ett.mn