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NDB Just Set A Record With Its $8.5 Billion “Panda Bond”



NDB Just Set A Record With Its $8.5 Billion "Panda Bond"

(CTN News) – The New Development Bank (NDB) has announced that it has successfully issued a “panda bond” of 8.5 billion yuan ($1.2 billion) on the China interbank bond market.

As a result of the new issue of the three-year bond, the amount has surpassed the previous record of 7 billion yuan. As a result, NDB has now established a new benchmark transaction in the China Interbank Bond Market, the bank said in a statement.

The Panda bonds are bonds that are issued by overseas institutions in the Chinese onshore market with a yuan-dominated currency.

As a result of the high demand from local and offshore investors, NDB is able to price the bond at a negative issuer premium.

We expect that the net proceeds of the sale of the bond will be used to finance infrastructure and sustainable development projects that will benefit member countries of the NDB and contribute to the achievement of the bank’s sustainable development goals.

The net proceeds of the sale of the bond may be remitted offshore in renminbi or converted into other currencies up to 100 percent of the net proceeds.

The net proceeds from the sale of the bond will be invested as part of the liquid assets of the NDB pending their use in the future.

As part of our efforts to support our operations, NDB aims to increase its presence on the local capital markets of our member countries by issuing and lending in local currencies, including the Chinese interbank bond market.

NDB remains committed to supporting China’s efforts to deepen its domestic capital market, and this panda bond issuance contributes to that effort,” said Leslie Maasdorp,

Vice president and chief financial officer of NDB.

The bond was underwritten by Bank of China as the lead underwriter. Underwriters included the Industrial and Commercial Bank of China, the Agricultural Bank of China, the China Construction Bank, Ping An Bank, the Bank of Ningbo, CITIC Securities, and Guotai Junan Securities.

Brazil, Russia, India, China, and South Africa founded in 2014, with its headquarters in Shanghai. In late March, Dilma Vana Rousseff was elected as the bank’s new president for a term lasting through 2025.

In the years since its establishment, the NDB has approved over $33.2 billion in loans for 98 projects in developing countries. Recently, the bank has added Bangladesh, the United Arab Emirates, Egypt, and Uruguay to its list of members in addition to the five BRICS nations.

In advance of NDB’s eighth Annual Meeting, which will be held in Shanghai from May 30 to 31 this year, the new panda bond was announced.


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