Price of Gerege Bond closes at 100.14 USD
On November 6, the price of the Gerege Bond had reached 100.76 USD but closed the week with a price of 100.14 USD.
According to Bloomberg, trading on the secondary market has been active with Italian based Fideuram investment firm buying 1,700 units and Luxembourg based Interfund Advisory buying 1,500 units in the Gerege bond.
The final credit rating for the bond was set at B- by Fitch Ratings Agency. As a result, across the board on the three main credit rating agencies, the 800 million USD Gerege Bond becomes the highest rated bond issued by Mongolia.
The collective rating of the previous bonds issued by Mongolia were CCC+ while the Gerege Bond has an overall rating of B-.