MANILA, April 10 (Xinhua) -- The Asian Development Bank (ADB) said Thursday it has issued its first local currency education bond, raising 45.7 billion Mongolian tugrik (approximately 13.1 million U.S. dollars) to support an education project in Mongolia.
The five-year Mongolian tugrik-denominated bond carries a fixed coupon rate of 10 percent, the Manila-based bank said in a press release.
Proceeds from the issuance will finance the construction of the country's first internationally certified green educational facility, a new annex to the Orchlon School and Kindergarten Complex LLC, the multilateral lender bank said. ■
