Ard Credit’s Inaugural Bond Debuts
September 4, 2024, Ulaanbaatar, Mongolia – Ard Credit non-bank financial company (Ard Credit, MSE:ADB) received approval from the Financial Regulatory Commission of Mongolia to issue bonds valued at MNT13.5 billion at the Ulaanbaatar Securities Exchange (UBX). The primary market trading of these Bonds took place on August 26 and the first tranche closed after receiving 159 bids for MNT2 billion.
Apex Capital was the underwriter for this maiden Bond and as of September 4, 2024, a secondary market trading began at the Ulaanbaatar Securities Exchange.
The Ard Credit Bond (UBX:ADBB), with a face value of MNT100,000, which carries an annual coupon rate of 18.5 percent with a maturity of 18 months. Coupons are paid quarterly with a deduction of 5 percent income tax. Notably, the Bond can also be utilized as collateral for loans from Ard Credit, enhancing its appeal to investors. The Bond offering consists of four tranches, and pre-orders for Tranche-II are currently underway. The proceeds from the Bond issuance will be used to expand the Company's portfolio with a focus on improving financial inclusion and supporting women-led businesses in Mongolia.
Ard Credit is Mongolia’s leading fintech, boasting over 1 million customers and more than 14,000 shareholders. The Company is listed in the MSE TOP-20 index. It operates under eight licenses from the Financial Regulatory Commission and the Central Bank of Mongolia. It is a subsidiary of Ard Financial Group (MSE:AARD).
For Further Information:
Ard Credit NBFI JSC
Head Office: Sukhbaatar District, 8th Khoroo, Sukhbaatar Square, Central Tower, 17th Floor
what3words: ///intellect.winning.dense
Phone: +976 77003322
Email: info@ardcredit.com
Website: ardcredit.com
