LendMN issues 5 bln MNT listed bond

LendMN got FRC permission to issue corporate bond at the MSE on June 10th, 2020. The company aims to raise 5 billion MNT from the public to finance micro loans. Lend bond details:

Unit price - 100,000 MNT

Term - 1 year (365 days)

Coupon rate - 17% (annual)

Income tax - 5%

Order intake period - Jun 15-19, 2020 

Pimary market order intake results: 

In total 528 individual and institutional investors put a total order of 67,424 LENDB, which sums up to 6,742,400,000MNT. As a result, lend bond primary market order intake process ended successfully with 34.8% over subscription.