The New Development Bank (NDB) put down successfully $ 448 million of RMB-denominated bonds in the China Interbank Bond Market on Monday. The NDB is a multilateral development bank established by the BRICS (Brazil, Russia, India, China & South Africa) states.
The NDB placed two positions with maturities of 3 years (2 billion yuan) and 5 years (1 billion yuan) and was priced at the lower end of the announced pricing range with coupon rates of 3 percent and 3.32 percent respectively.
“The NDB successfully raised 3 billion yuan at very attractive price levels, which marks another formidable milestone for the bank. Pricing of the bond is a good reflection of the NDB’s high credit quality,” said Leslie Maasdorp, NDB VP & CFO, “In line with the NDB’s General Strategy, the bank intends to become a regular issuer in local currency markets of its member countries. The bank is currently awaiting regulatory approvals to issue local currency debt in a number of markets of its member countries.” – reported China.org.cn.