The BRICS multilateral funding institution, New Development Bank (NDB) will issue bonds in South Africa and commercial paper in U.S. dollars in the first half of 2019. NDB’s President K.V. Kamath said in an interview with Xinhua.
According to the bank’s President, it is already done, they are only waiting for a launch. “The new bonds in South Africa will be denominated in the local currency and will be placed at the Johannesburg Stock Exchange,” said the Kamath.
The New Development Bank (NDB) put down successfully $ 448 million of RMB-denominated bonds in the China Interbank Bond Market on the 25 February. 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.
Since establishment the NDB has continued to show growth, despite wide criticism from the media – many publications have prophecies on the failure of the bank.