Mongolia's XacBank begins roadshow for three-year dollar bonds

By Aleesia Forni

Columbus, Ohio, March 29 - XacBank LLC began a roadshow on Thursday for a proposed issue of three-year dollar-denominated bonds (Ba3//B), according to a syndicate source.

ING and UBS are managing the deal, which will be issued under the Ulaanbaatar, Mongolia-based bank's $300 million medium-term note program.

Proceeds will be used for funding and general corporate purposes and to refinance existing non-deposit funding maturing in 2012.

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