Category
- Agriculture
- Automobiles and Machinery
- Bank, non banking financing, investment
- Blasting
- Construction
- Consumables
- Education
- Energy
- Engineer , Architecture and Geodesy
- Finance, Audit,Accounting and Brokerage
- Food
- Foreign Trade
- Geology Exploration
- Health
- Information Technology
- Insurance
- Labor Safety
- Legal and Business consulting
- Lighting
- Mining equipment
- Mining Services
- Other product and service
- Road
- Sewing and textile products
- Transportations
- Travel
Events
Second phase trading of ‘ETT Bond’ to be opened next week www.montsame.mn
In April this year, Erdenes Tavantolgoi JSC received a permission from the Financial Regulatory Committee to issue the dual currency ‘ETT Bond’ with a total value of up to MNT 2 trillion with a purpose to finance the implementation of major projects.
The ETT bond was intended to be offered to the public in three phases, and the first phase was successfully organized between March 30 and April 09, 2021.
In the first phase of the ‘ETT Bond’ primary market trading order, a total of MNT 677.7 billion of orders were submitted by stakeholders and fully met planned target. 970 business entities and individuals (in repeated counting) took part in the trading and placed 2,755,639 orders, which raised MNT 347.7 billion, in addition to MNT 330 billion raised under the bank refinancing agreements.
The second phase will be organized on August 16-25, with an intent to offer bonds worth MNT 285 billion and USD100 million. The issuance of this bond in US dollars prevents from the risk of depreciation and has relatively high interest rates compared to other US dollar financial products.
With the money raised in the domestic capital market, it is expected to fund the major infrastructure projects of the country, such as Tavantolgoi Thermal Power Plant, Railway, Coal Processing Plant and Water Supply Plant. Thanks to the above constructions, the company's efficiency will increase and it is expected to have a net profit of MNT 11.5 trillion until 2025.
Published Date:2021-08-11
