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Mongolian Mortgage Corporation HFC LLC completed the issuance of US$250 million 8.85% senior notes due 2024. The issuer plans to use the net proceeds from the offering to purchase its outstanding 9.75% senior notes due 2022, and the remainder to purchase mortgages with recourse in the ordinary course of business. This transaction forms part of Mongolia’s effort to revitalize its economy and encourage domestic sustainable development during the COVID-19 pandemic. This issuance introduces much-needed liquidity into the growing mortgage market in Mongolia. The new issuance should translate into lower lending rates for Mongolian mortgage holders, while taking pressure off the balance sheets of Mongolia’s commercial banks through the purchase of underlying mortgages. We are very proud to be part of this transaction and to contribute to the further development of Mongolia’s domestic mortgage market. ....