DHAKA, May 29, 2023 (BSS) - New Development Bank (NDB) has successfully 
issued CNY 8.5 billion bond in the China Interbank Bond Market, as part of 
its strategy to diversify the Bank's presence in the capital markets and 
mobilize resources for financing sustainable development projects. 

NDB established a new benchmark Panda bond transaction in the China Interbank 
Bond Market which surpass its previous issuance size of CNY 7 bln Panda bond, 
said a press release here today. 

The transaction was met with strong demand from the onshore and offshore 
investor community which enables NDB to price the bond with negative issuer 
premium.

The net proceeds from the sale of the bond will be used as general corporate 
resources of the Bank and will be used to finance infrastructure and 
sustainable development projects that benefit its member countries and/or 
contribute to achieving the Sustainable Development Goals. 

Up to 100 percent of the net proceeds from the sale of the bond may be 
remitted offshore in RMB and/or converted into other currencies. Pending 
their use, the net proceeds from the sale of the Bonds will be invested as 
part of the NDB's liquid assets.

The transaction was characterized by a strong demand from a broad range of 
investors, which reflects investors' confidence in NDB and its strong 
reputation in the market.

"We are pleased with the successful execution of the CNY 8.5 billion bond 
issuance. I would like to express my gratitude to investors for their 
continued trust and confidence in NDB and in its mandate of mobilizing 
resources for high-quality infrastructure and sustainable development 
projects in BRICS and beyond," said Leslie Maasdorp, NDB Vice-President and 
Chief Financial Officer.

"In order to support our operations, NDB seeks to increase its presence in 
local capital markets of our member countries, by issuing and lending in 
local currencies, including the China Interbank Bond Market. We remain 
strongly committed to supporting China's efforts aimed at deepening its 
domestic capital market and this Panda bond issuance contributes to this 
effort," he added.

Bank of China Limited acted as the Lead Underwriter of the bond. Industrial 
and Commercial Bank of China Limited, Agricultural Bank of China Limited, 
China Construction Bank Corporation, Ping An Bank Co. Ltd, Bank of Ningbo Co. 
Ltd, CITIC Securities Co. Ltd, and Guotai Junan Securities Co. Ltd acted as 
Joint Underwriters of the bond.