BRICS New Development Bank sells 2bn yuan bond in China

Emerging economies-backed lender plans further yuan-denominated sales  

BRICS New Development Bank sells 2bn yuan bond in China

(ATF) BRICS New Development Bank (NDB) announced Tuesday that it has issued a 2 billion yuan ($285 million) bond in the China Interbank Bond Market, with a maturity of five years and a 3% coupon.

"We are honoured by the recognition and support received from investors during the bond issuance," said Leslie Maasdorp, NDB vice president and chief financial officer. "The NDB is a regular issuer in China and the bank will continue to build its RMB (yuan) bond curve."

Maasdorp noted that the bank has just submitted a request for registering a 20bn yuan bond programme to the National Association of Financial Market Institutional Investors in China.

Headquartered in Shanghai, the NDB was established by Brazil, Russia, India, China, and South Africa, known as the BRICS countries. The bank formally opened in July 2015.