Sendly launches 12 billion MNT (~$3.3M) bond on Mongolian exchange

What's the deal? Sendly NBFI JSCDealroom has a profile for this one. Try Dealroom → has launched primary market trading of its Sendly Bond 3.0, a 12 billion MNT (~$3.3 million) offering on the Mongolian Stock Exchange (MSE). The company is issuing 120,000 fixed-rate bonds with a 100,000 MNT face value each, carrying a 19% interest rate and a 24-month maturity.

What's the endgame? Sendly said proceeds will finance its core business operations and lending activities. The company has operated in Mongolia's non-bank financial sector for over a decade and went public in September 2022.

Why now? The bond is the 14th public product on Mongolia's capital market this year, bringing total financing raised by businesses to 613 billion MNT. Deputy Chairman of the Financial Regulatory Commission T.Tserenbadral said market activity intensified over the first eight months and is expected to stay strong through the third quarter.

This is not Sendly's first raise. It issued public bonds in 2021 and 2023, raising a combined 18.5 billion MNT, and pulled in another 10 billion MNT in August 2024 through its Sendly 2.0 open bond.

The signal: Tserenbadral described Sendly as an active fintech player that has helped "normalize the practice of raising capital from the stock market." With regulators pushing market-making measures to boost liquidity, the offering points to a Mongolian capital market steadily widening access for domestic investors and issuers alike.

Read more: ubpost.mn

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