Page 12 - bne_November 2020_20201104

12 I Companies & Markets
Mongolian government issues "Nomad" bond on international market
bne IntelliNews
The Mongolian government has issued a “Nomad” bond worth $600mn on the international market, the country's finance minister Khurelbaatar Chimed announced on September 29.
The annual interest rate on the “Nomad” is 5.125%, while the bond will mature in 5.5 years. Khurelbaatar said four international investment banks, namely J.P. Morgan,
“The new bond was not issued to bring more money to Mongolia.
The purpose of the ‘Nomad’ bond is to repay 500 million US dollars of a five-year ‘Mazaalai’ bond”
Morgan Stanley, HSBC and Nomura worked with his ministry and Mongolia's central bank on the issue.
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Contents
Top stories
Russia’s top retail and tech companies join forces to hunt for innovations in the rest of the world 2 Ukraine-born startups raised more
than half a billion dollars in 2019 4 Russian video streaming platforms
gain speed 5 Cloud services take off in Russia 6 SEMrush to SEO success 8
Leaders 9
Russia’s internet giant Yandex
announces growing and more
diversified revenues in 2019 10 Russian telecom major Rostelecom misses on earnings in 4Q19, cash
flow solid 12
Investment 13
World Bank approves $35mn project
to modernise Kyrgyz tax administration and statistical system 13 Romanian online home decoration
retailer raises €3.5mn in bonds 14 Russian billionaires Abramovich, Gutseriev, said to invest in Telegram
crypto project TON 14 Russian fund Da Vinci Capital gets
€30mn from Germany’s DEG to invest
in Ukraine, Belarus and Kazakhstan 15
Fintech & E-commerce 16
Russian e-commerce major
Wildberries to add self-employed
vendor products to offering 16 Russian Dixy retailer to launch online sales with Ozon 17 Valuation of Sistema’s e-commerce
asset Ozon boosted to $1.8bn 17
Telecom 19
Makedonski Telekom’s net profit
up 6% y/y in 2019 19 Romanian telco Digi grows by double
digit rates in 2019 19 Russia could postpone 5G rollout
from 2022 to 2024 20
NIBs 21
Khurelbaatar added: “The new bond was not issued to bring more money to Mongolia. The purpose of the ‘Nomad’ bond is to repay 500 million US dollars of a five-year ‘Mazaalai’ bond which will mature in April 2021. This is debt restructuring on part of the current outstanding sovereign debts by exchanging 10.8% ‘Mazaalai’ bond debts with the low-interest rate ‘Nomad’ bond.”
In 2016, the government issued the "Mazaalai" bond at 10.8%, the highest interest rate recorded since 2011.
In addition, with the issuance of the "Nomad" bond, the repayment of the remaining $1bn of the “Chinggis” bond has been postponed to lessen the burden on the budget, the finance minister said.
In 2012, the government issued the “Chinggis” worth $1.5bn with a rate of 5.125%, with due repayments of $500mn in 2018 and $1bn in 2022.
The finance ministry also has plans to issue bonds domestically. These bonds will be issued using a platform based on blockchain technology.
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Russia’s top retail and tech companies
join forces to hunt for innovations in
the rest of the world
BAs Russia’s retail and tech sectors consolidate, the leading companies are turned their gaze outwards to hunt for
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new technology and innovation.
See page 2
Ukraine-born startups raised more
than half a billion dollars in 2019
In 2019, the venture capital and private equity funding volume for Ukrainian and Ukrainian-founded tech startups reached $544mn (up from $323mn in 2018 and $265mn in 2017), says AVentures Capital’s latest industry report ”DealBook of Ukraine”,
reports Adrien Henni of Ukraine Digital News. See page 4
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