BRICS New Development Bank issues record amount of 5-year panda bonds

February 1, 2024
Updated 2024/02/01 at 7:43 PM
2 Min Read

SHANGHAI (Xinhua) — The BRICS New Development Bank on Thursday announced that it has issued 6 billion yuan (about 844.5 million U.S. dollars) of five-year panda bonds in the China Interbank Bond Market.

The transaction is the largest-ever five-year panda bond issuance, and it is the first panda bond issuance this year by a multilateral development bank in the China Interbank Bond Market.

“The successful issuance of largest-ever five-year panda bond marks a pivotal moment for the New Development Bank. It demonstrates the strong market appeal of our mission and mandate to mobilize resources for financing infrastructure and sustainable development,” said Leslie Maasdorp, the bank’s vice president and CFO.

The transaction not only showcases the immense interest of investors, but also highlights their confidence in the bank’s strategic evolution into a leading provider of infrastructure and sustainable development solutions for emerging markets and developing countries, according to him.

“The New Development Bank looks forward to further strengthening its presence in the China Interbank Bond Market, and we remain committed to leveraging this success to further contribute to sustainable development and economic growth in our member countries,” he added.

The total amount of panda bonds issued by the bank to date has hit 47.5 billion yuan.

Headquartered in Shanghai, the New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and in other emerging market economies and developing countries.

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