GLAS partners with Golomt Bank JSC on US$50M bond issuances

GLAS teams in Australia, Singapore and the UK played several roles on two successful bond issuances for Golomt Bank JSC.

The bond issuances raised US$50m on the international market and consist of a five-year green bond and a social bond.

This landmark transaction finalises the first Lux listed Mongolian Bonds and have the lowest coupon and longest maturity of any bond issued by a Mongolian corporate entity on the global market.

The GLAS teams acted as Fiscal Agent, Registrar, Principal Paying Agent and Transfer Agent.

The issuer will use the proceeds of both bonds to finance eligible social and green projects in accordance with the issuer’s sustainability frameworks – the Mongolian Green Taxonomy and Mongolia SDG Financing Taxonomy.

About Golomt Bank

Golomt Bank is one of Mongolia’s largest commercial banks. Founded in 1995, the bank has over 1 million customers, primarily in Mongolia, and has over 2000 employees.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $500bn of assets under administration on a daily basis. For more information, contact media@glas.agency.