ETT is going to offer a second tranche of the bond worth $100 million and ₮285 billion respectively between 16 to 25 August 2021

ETT IS GOING TO OFFER A SECOND TRANCHE OF THE BOND WORTH $100 MILLION AND ₮285 BILLION RESPECTIVELY BETWEEN 16 TO 25 AUGUST 2021

11 Aug 2021 07:49

Last April, “Erdenes Tavantolgoi” JSC received approval from Financial Regulatory Commission to publicly offer the ETT Bond worth up to ₮2 trillion at the stock exchange in regards to finance the mega projects and programs as well as the company’s working capital. ETT is aiming to issue ETT Bond through three separate tranches. ETT offered the first tranche of the bond between 30 March to 9 April 2021 and publicly traded at the Mongolian Stock Exchange. Thus, ETT successfully raised ₮347.7 billion for the first tranche of ETT Bond from 970 investors including foreign and local citizens and entities through 2,755,639 subscriptions and refinanced the loan of ₮330.0 billion from commercial banks.

ETT is going to offer a second tranche of the bond worth $100 million and ₮285 billion respectively between 16 to 25 August 2021. ETT Bond denominated by USD is not exposed to exchange rate fluctuations and offers relatively higher returns compared to other financial products.
ETT will use the proceeds for the Tavantolgoi thermal power plant, coal handling and processing plant, water supply projects, railway projects, etc. By implementing these projects, the company’s profitability will increase and the company will earn ₮11.5 trillion of net income over the year 2021 - 2024.

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