As part of its plan to diversify the Bank’s position in the capital markets and mobilize resources for financing sustainable development projects, New Development Bank (NDB) has successfully issued CNY 8.5 billion in bonds on the China Interbank Bond Market.
According to a press statement issued here today, NDB created a new benchmark Panda bond transaction in the China Interbank Bond Market that surpassed the size of its prior Panda bond issuance of CNY 7 billion.
Strong interest from both domestic and international investors in the transaction allowed NDB to price the bond with a negative issuer premium.
The Bank will use the net proceeds from the issuance of the bond as general corporate resources to fund sustainable development and infrastructure projects that benefit its member nations and/or help them achieve the Sustainable Development Goals.
The bond’s net proceeds may be transferred overseas in RMB or exchanged into other currencies up to 100% of the time. The net proceeds from the sale of the Bonds will be invested as part of the NDB’s liquid assets while they are being used.
Investors’ confidence in NDB and its solid reputation in the market can be seen in the transaction’s robust demand from a diverse group of investors.
