The Development Bank of Mongolia DBM has proved that emerging and frontier market investors are still willing to engage - and en masse - for the right credit after completing a highly successful return to the international bond markets this week.
The country's re-vamped development and export-import bank priced a $500 million five-year deal in New York on Tuesday off a $4.1 billion peak order book.
DBM’s success caps almost two years of an IMF-led economic makeover that has pulled Mongolia back from the brink of a sovereign default and transformed it into a frontier market darling once more.
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