GLAS partners with Development Bank of Mongolia on liability management exercise

GLAS is pleased to announce its role in the successful completion of the Development Bank of Mongolia’s tender offer.

GLAS acted as Tender Agent and Information Agent, supporting the successful execution of the transaction, collecting instructions from bondholders via the clearing systems, and facilitating communication with bondholders and market participants.

Following an eight-year absence from the international public bond markets, the Development Bank of Mongolia returned with a dual-track financing that included this transaction and a US$500 million five-year bond, the first US dollar-denominated public issuance by a Mongolian quasi-sovereign since 2018.

The tender offer achieved a participation rate of 69.45%, supporting the issuer’s refinancing objectives and generating significant cost savings while strengthening its long-term funding profile.

About Development Bank of Mongolia

The Development Bank of Mongolia is Mongolia’s state-owned development finance institution, established to support economic growth through the funding of strategic infrastructure and development projects. The bank plays a key role in facilitating investment and supporting the country’s long-term economic development.

About GLAS

Founded in 2011, GLAS is a leading independent global provider of debt administration services. As a non-lender and conflict-free firm, GLAS supports both private and public credit markets, distinguishing itself through its expertise, reliability and independence.

With over $850 billion of assets under administration, GLAS is headquartered in London and has an established international presence, with offices in the United States, France, Germany, Spain, Italy, the United Arab Emirates, Singapore, Hong Kong and Australia.

For further information, please contact: media@glas.agency.